Author Question: An example of an implicit cost of production is: a. the cost of leather used in manufacturing ... (Read 159 times)

Redwolflake15 · **on:** Jun 30, 2018

An example of an implicit cost of production is:
a. the cost of leather used in manufacturing furniture.
b. the opportunity cost of space in your home that is used for a home office.
c. the wages paid to high school students that work in a fast-food restaurant.
d. none of the above.

Question 2

People tend to remain in those occupations that require continuous time and financial commitments to remain productive.
a. True
b. False
Indicate whether the statement is true or false