Which of the following distinctions does not help to explain the difference between relevant and irrelevant cost?
A) historical vs. replacement cost
B) sunk vs. incremental cost
C) variable vs. fixed cost
D) out-of-pocket vs. opportunity cost
E) All help to explain the difference.
D
Economics
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When the price of the good or service it produces rises, the firm's
A) demand for labor curve shifts rightward. B) demand for labor curve shifts leftward. C) demand for labor curve remains unchanged. D) output decreases.
Economics
In a Nash equilibrium, all players select non-dominant strategies
Indicate whether the statement is true or false
Economics