Which of the following statements is true?
A) Opportunity cost = explicit cost - implicit cost. B) Variable cost = wages + salaries + benefits.
C) Total cost = fixed cost + variable cost. D) Total cost = fixed cost + implicit cost.
C
Economics
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All of the following are components of aggregate demand EXCEPT
A) consumption spending. B) government purchases. C) the level of technology. D) net foreign spending on domestic production.
Economics
Productive efficiency refers to
A. setting TR = TC. B. maximizing profits by producing where MR = MC. C. cost minimization, where P = minimum ATC. D. production at a level where P = MC.
Economics