The sum of the explicit and implicit costs incurred in the production process is called:

The above figure shows the market for pizza. Which figure shows the effect of an increase in the price of sandwiches, which for consumers are substitutes for pizza?

A) Figure A B) Figure B C) Figure C D) Figure D

The functions of money are

A) a conductor of economic activity, a medium of exchange, and a store of value. B) a medium of exchange, a store of value, and a factor of production. C) a store of value, a medium of exchange, and a determinant of investment. D) a store of value, a unit of account, and a medium of exchange.