Which of the following would not be included in personal consumption expenditure?

Which of the following is an explicit cost of production?

A) wages paid to workers B) the electric bill C) purchases of raw material D) Only answers A and B are explicit costs because the purchases of raw material is only an opportunity cost. E) Answers A, B, and C are all correct.

Refer to the information provided in Table 31.2 below to answer the question(s) that follow.Table 31.2PeriodQuantity of Labor (L)Quantity of Capital (K)Total Output (Y)1  50  50  2002  50  60  2153  50  70  2254  50  80  230Refer to Table 31.2. During Period 4, output per capital is equal to

A. 0.35. B. 1.77. C. 2.88. D. 4.6.