Explicit costs are costs that:
A. require a firm to spend money.
B. are zero when no output is produced.
C. do not depend on the quantity of output produced.
D. depend on the quantity of output produced.
A. require a firm to spend money.
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Which of the following scenarios would result in economic growth in the country of Everland?
a) GDP and prices double. b) GDP and population doubles, while prices remain the same. c) Population doubles while GDP and prices remain the same. d) GDP doubles while prices remain the same.
If a firm with a 10 percent market share merges with a firm with 15 percent of the market, by how much will the Herfindahl index change? The other firms have 40 percent, 15 percent, 10 percent, and 10 percent shares
a. It rises by 100. b. It rises by 300. c. It falls by 200. d. It falls by 250. e. It rises by 25.