Economists and accountants usually disagree on the inclusion of implicit costs into the cost analysis of a firm
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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Perfect substitutes
A) always have indifference curves with slopes of -1. B) always have indifference curves with slopes of 1. C) have fixed rates of trading off one good for another. D) have horizontal indifference curves.
Economics
Refer to the data. Real GDP for year 5 is:
Assume an economy that makes only one product and that year 3 is the base year. Output and price data for a five-year period are as follows. Answer the question on the basis of these data.
A. $160.
B. $49.
C. $40.
D. $64.
Economics