Author Question: If a firm's implicit costs are greater than its explicit costs, it tells us nothing about whether a ... (Read 59 times)

james9437 · **on:** Jun 30, 2018

If a firm's implicit costs are greater than its explicit costs, it tells us nothing about whether a firm is earning economic or accounting profits.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Which of the following is a major impact of offshoring?
a. Elimination of domestic jobs
b. Elimination of jobs in foreign countries
c. Creation of jobs in the domestic country
d. An increase in the cost of production of domestic firms
e. A reduction in the cost of production of foreign firms