This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: An implicit cost is a. any cost a firm cannot avoid in the short run b. any expenditure a firm ... (Read 56 times)

burton19126

  • Hero Member
  • *****
  • Posts: 532
on: Jun 30, 2018
An implicit cost is
 a. any cost a firm cannot avoid in the short run
  b. any expenditure a firm makes
  c. an opportunity cost
  d. accurately measured in accounting statements
  e. ignored by economists

Question 2

Unlike implicit costs, explicit costs
 a. reflect opportunity costs
  b. include the value of the owner's time
  c. are not included in a firm's accounting statements
  d. are actual cash payments
  e. do not change as a firm's output changes


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

firehawk60

  • Sr. Member
  • ****
  • Posts: 315
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

D


burton19126

  • Member
  • Posts: 532
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

irishcancer18

  • Member
  • Posts: 310
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Avoid hyperextending the pelvis. Avoid hyperextending the pelvis.
a) Face the direction of your stroke. b) Avoid facing away from your stroke. a) Face the direction of your stroke. b) Avoid facing away from your stroke.
a) Avoid placing the face cradle too high because it hyperextends and strains the neck. b) When the ... a) Avoid placing the face cradle too high because it hyperextends and strains the neck. b) When the ...
Relations Between Iconic Memory, Short-Term Memory, and Long-Term Memory Relations Between Iconic Memory, Short-Term Memory, and Long-Term Memory
Typical Startup Cost Categories Typical Startup Cost Categories
Experiments showing that long- or short-day plants flower in response to night length. Each horizont Experiments showing that long- or short-day plants flower in response to night length. Each horizont
Video: Muscular System Animation

For a complete list of videos, visit our video library