If the interest rate is 1 percent and a business pays $100,000 for a lease on a factory, the explicit costs are
A) $110,000.
B) $100,000.
C) $10,000.
D) $90,000.
Answer: C
Economics
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The old adage "rules are made to be broken" would typically be associated with economists who might advocate ________
A) stabilization policy B) monetary policy C) rule-determined policy D) discretionary policy E) fiscal policy
Economics
Which demand curve would best represent a monopolistic competitor?
A. D1
B. D2
C. D3
D. None of these curves represent a monopolistic competitor.
Economics