Total cost is equal to what?
a. Implicit Costs
b. Opportunity Costs
c. Fixed Costs + Variable Costs
d. Implicit Costs + Fixed Costs
c
Economics
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Partnerships whose members have _____ can face difficult problems operating and reaching decisions
a. diverse functions b. specialized functions c. multiple functions d. limited functions
Economics
Suppose that the price of butter is $3 per pound and the price of margarine is $2 per pound. If the price of butter rises to $3.90 and the price of margarine rises to $2.20, then the absolute price of butter has _______________ and the relative price of butter has _______________
A) risen; fallen B) fallen; risen C) risen; risen D) fallen; fallen
Economics