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Author Question: An implicit cost is a. any cost a firm cannot avoid in the short run b. any expenditure a firm ... (Read 31 times)

burton19126

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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


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firehawk60

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Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

D


burton19126

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  • Posts: 532
Reply 2 on: Jun 30, 2018
:D TYSM

epscape

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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