Cash payments to a steel mill for steel used in production would be an example of:
A. entrepreneurial costs.
B. fixed costs.
C. explicit costs.
D. implicit costs.
Answer: C
Economics
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If your nominal income is $80,000 and your real income in base year prices is $71,500, what is the CPI?
A) 106 B) 150 C) 112 D) 100 E) 89
Economics
A fall in the price of the final product produced by a firm will cause
A) a decline in the price of an input used to produce the good. B) a movement down the demand curve for an input used to produce the final product. C) a reduction in demand for an input used to produce the final product. D) a reduction in the supply of an input used to produce the final product.
Economics