Explicit costs
a. do not require an outlay of money by the firm.
b. enter into the accountant's measurement of a firm's profit.
c. enter into the economist's measurement of a firm's profit.
d. Both b and c are correct.
d
Economics
You might also like to view...
The distinction between income and needs of the working poor is not vital for policy concerns
Indicate whether the statement is true or false
Economics
When deciding whether to hire an additional worker, firms need only consider how the additional worker would affect
a. costs. b. revenues. c. output. d. profit.
Economics