All of the following would be considered explicit costs of operating a business except
A) the rental value of equipment the company owns and uses for its own production.
B) advertising expenses.
C) utility expenses.
D) the cost of raw materials used in production.
A
Economics
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It is impossible to create a free market system that promotes economic efficiency
Indicate whether the statement is true or false
Economics
Which of the following best describes the characteristics of a set of property rights that are consistent with the achievement of economic efficiency?
a. specified, nonexclusive, nonrival, enforced b. nonexclusive, rival, enforced, transferable c. exclusive, rival, enforced, nontransferable d. specified, exclusive, transferable, enforced e. specified, exclusive, nonrival, enforced
Economics