Author Question: Explicit costs are a. not part of opportunity cost b. the only cost considered in opportunity cost ... (Read 153 times)

fbq8i

  • Hero Member
  • *****
  • Posts: 527
Explicit costs are
 a. not part of opportunity cost
  b. the only cost considered in opportunity cost
  c. exactly the same as implicit costs
  d. actual monetary payments for resources purchased
  e. the opportunity costs of using resources owned by the firm

Question 2

The opportunity cost of a resource
 a. includes both explicit and implicit cost
  b. includes explicit cost only
  c. includes implicit cost only
  d. is equal to the market price of the resource
  e. is not related to the market price of the resource



Melissahxx

  • Sr. Member
  • ****
  • Posts: 304
Answer to Question 1

D

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

For a complete list of videos, visit our video library