Which of the following is an implicit cost of production?
A) interest paid on a loan to a bank
B) wages paid to labor plus the cost of carrying benefits for workers
C) rent that could have been earned on a building owned and used by the firm
D) the utility bill paid to water, electricity, and natural gas companies
C
Economics
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The local diner is usually jammed on Saturday mornings. Luke knows the owner and had him reserve a stool at the counter. Luke has
A) cooperated with the owner. B) competed with other customers. C) taken an efficient course of action, from his own perspective. D) engaged in all of the above.
Economics
Explain how the concept of externalities helps in demarcating the boundaries between the roles of government and private sector in health and health care
What will be an ideal response?
Economics