One of the determinants of real GDP is output per hour of labor. This statistic is called labor

Which of the following distinctions helps to explain the difference between relevant and irrelevant cost?

A) accounting cost vs. direct cost B) historical cost vs. replacement cost C) sunk cost vs. fixed cost D) variable cost vs. incremental cost

Which of the following types of firms should expect a higher rate of return?

a. an auto dealership b. a biotech pharmaceutical firm c. a manufacturer of screws and bolts d. a paper products firm e. all of the above