Author Question: An example of an explicit cost of production is: a. the cost of foregone labor earnings for an ... (Read 95 times)

jc611 · **on:** Jun 30, 2018

An example of an explicit cost of production is:
a. the cost of foregone labor earnings for an entrepreneur.
b. the cost of flour for a baker.
c. the foregone rent that could have been earned if land owned by a firm was not used as its parking lot.
d. provided by none of the above.

Question 2

An example of human capital is the purchase of a computer to help accountants.
a. True
b. False
Indicate whether the statement is true or false