Which of the following is an explicit cost in Jim's business venture?
A) the salary Jim could have earned at another job
B) the interest Jim does not earn because he invested his savings in his business
C) the wages Jim pays his workers
D) Jim's normal profit
E) Answers A, B, and D are correct.
Correct Answer:
Verified
Q1: Which of the following is an explicit
Q2: When an economist uses the term "cost"
Q4: Which of the following is an implicit
Q5: Darryl runs a ranch in Jackson,Wyoming.The interest
Q6: Which of the following is an example
Q7: _ cost is defined as a cost
Q8: The primary goal of a business firm
Q9: Lauren runs a chili restaurant in San
Q10: The cost that a firm pays in
Q11: John fishes for a living.Last year,he sold
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents