Unlike implicit costs, explicit costs:
A. reflect opportunity costs.
B. include the value of the owner's time.
C. are not included in the accounting statement of the firm.
D. are actual cash payments.
Answer: D
Economics
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As the interest rate __________, the quantity supplied of money __________ and the quantity demanded of money __________
A) falls; rises; falls B) rises; remains unchanged; falls C) falls; remains unchanged; falls D) rises; rises; rises E) none of the above
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In the past, Canada has agreed to set an upper limit on the total amount of softwood lumber sold to the United States. This is an example of a(n):
A. import quota. B. export subsidy. C. voluntary export restriction. D. protective tariff.
Economics