Which of the following is not an implicit cost?
A) wages
B) opportunity cost of using an owner's savings
C) owner-provided capital
D) owner-provided labor
A
Economics
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Orange juice drinkers want to consume more orange juice at a lower price. Which of the following events would have this effect?
A) a decrease in the population B) a decrease in the price of orange juice processing C) an increase in the cost of fertilizer used for orange groves D) a decrease in income, assuming orange juice is a normal good
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