An explicit cost is
A) a nonmonetary opportunity cost.
B) a cost specifically related to government rules and regulations.
C) a cost that involves spending money.
D) a cost unique to corporations.
Answer: C
Economics
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When more firms enter an industry:
A. the industry supply curve will shift right. B. the amount produced by each of the new firms will be less than the amount produced by each of the original firms. C. the amount produced by each of the new firms will be greater than the amount produced by each of the original firms. D. the industry supply curve will shift left.
Economics
“Correlation” is a measure of how one variable causes another to change.
Answer the following statement true (T) or false (F)
Economics