Explicit costs are
A) costs that are measured in dollars.
B) costs that do not involve an exchange of money.
C) the same as opportunity costs.
D) the same as implicit costs.
A
Economics
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The individual firm maximizes its total profit by producing the level of output at which the difference between marginal revenue and marginal cost is as large as possible
Indicate whether the statement is true or false
Economics
With no inflation, a bank would be willing to lend a small business firm $5 million at an annual interest rate of 3 percent. But, if the rate of inflation was anticipated to be 4 percent, the bank would charge the firm an annual interest rate of:
A. 7 percent. B. 3 percent. C. 4 percent. D. 10 percent.
Economics