The money the North Korean government spent to purchase a closed British brewery was a(n) ________ cost, and the choice to brew beer in this brewery instead of using the resources to feed the people of North Korea is a(n) ________ cost
A) explicit; explicit
B) explicit; implicit
C) implicit; implicit
D) implicit; explicit
B
Economics
You might also like to view...
What are the three ingredients of a financial and banking crisis?
What will be an ideal response?
Economics
Taxation may improve the social welfare when the taxed good
a. is socially undesirable (like, in some views, liquor and pornography). b. imposes negative externalities. c. is overproduced under a free-market system. d. All of the above are correct.
Economics