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Author Question: What is the difference between explicit costs and implicit costs? List three examples each of ... (Read 39 times)

ghost!

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on: Jun 29, 2018
What is the difference between explicit costs and implicit costs? List three examples each of explicit costs and implicit costs that may be experienced by a small business.
 
  What will be an ideal response?

Question 2

Suppose that if a local McDonald's restaurant reduces the price of a Big Mac from 4.00 to 3.25, the number of Big Macs it sells per day will increase from 4 to 5. Explain the output effect and the price effect resulting from this change.
 
  Using a graph, illustrate both the loss in revenue from selling each of the first 4 Big Macs for 0.75 less and the additional revenue from selling 1 more Big Mac. What is the total change in revenue received which results from this price decrease?
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sokh

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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ghost!

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

Joy Chen

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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