An implicit cost is
A) a nonmonetary opportunity cost.
B) a cost unique to sole proprietorships.
C) a cost that involves spending money.
D) a cost unique to corporations.
Answer: A
Economics
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In a market with positive externalities, the market equilibrium price will be greater than the efficient equilibrium price
Indicate whether the statement is true or false
Economics
If the quantity of jelly beans supplied is represented by the equation QS = -20 + 4P then the corresponding price of jelly beans is represented by the equation
A) P = 2.5 - 4QS. B) P = 0.25QS + 5. C) P = 4QS - 80. D) P = 0.5QS + 80.
Economics