A nonmonetary opportunity cost is called a(n) ________, while a cost that involves spending money is called a(n) ________
A) implicit cost; explicit cost B) normal rate of return; asset
C) accounting profit; economic profit D) accounting cost; explicit cost
A
Economics
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The real-balance effect refers to
A) the real interest rate. B) the production of real goods and services as opposed to financial instruments. C) the prices of goods and services. D) the real value of cash balances that a person is holding.
Economics
According to the above figure, if the firm is earning zero economic profits, what quantity is the firm selling and at what price?
A) Q = 200; P = $4 B) Q = 1,000; P = $5 C) Q = 800; P = $4 D) Q = 1,200; P = $7
Economics