Entrepreneurs implicit cost

Can someone please help me in finding out the precise answer from the following question. The entrepreneur’s implicit cost would comprise the: (i) Purchase price of the intermediate goods. (ii) Interest payments on loans. (iii) Value of the owner’s labor. (iv) Insurance premiums on firm.

View Complete Question

Related Questions in Microeconomics

Q : Price discriminate by monopoly firms

Monopoly firms which can’t price discriminate: (a) are generally forced to shut down into the long run. (b) find this impossible to bar entry by new competitors within the long run. (c) by producing maximize profit where average

Q : Variable costs in short run A monopoly

A monopoly tends to shut down within the short-run when: (i) price is less than the minimum of average total costs [ATC]. (ii) price cannot cover all overhead costs. (iii) variable costs are not covered. (iv) total costs exceed total revenues. (v) the

Q : Define Marginal Utility Marginal

Marginal Utility: It is addition more to the net or total utility as consumption is increased by one more unit of commodity.

Q : Increase output to increase profit When

When the last unit produced and sold adds $100 to revenue of a firm and $75 to its costs, this will: (a) increase output to increase profit. (b) reduce output to increase profit. (c) maintain similar level of output to maximize profit. (d) shut down.

Q : Experience decreasing costs industry If

If one industry’s development stimulates development in support and complementary industries, it permits firms within the industry to: (i) move up their rising long run average costs curves. (ii) sell their products for higher prices. (iii) focus old technologie

Q : Define marginal cost Marginal cost : It

Marginal cost: It is the change in sum cost by generating one more or less unit of output.

Q : Purchasing power of Income Effects

Whenever the price increases for a good that you enjoy extremely and purchase regularly: (i) The purchasing power of your income is reduced. (2) You adjust more rapidly than when the good was insignificant to you. (3) Your substitution effect is over-powered by an inc

Q : Unimportant economies of scale If

If comparing market structures, when economies of scale are unimportant: (w) the most efficient form of market structure is a pure monopoly. (x) purely competitive industries and price discriminating monopolies are equally efficient. (y) price discrim

Q : Arising of perfect price discrimination

Perfect price discrimination would arise when a firm: (1) extracted full consumer surpluses from its customers. (2) permitted monopolistic customers quantity discounts. (3) redistributed real income among consumers. (4) inefficiently allocated its res

Q : Market power as a price maker The only

The only firm in this figure which has market power as a price maker is: (w) Firm A. (x) Firm B. (y) Firm C. (z) Firm D.

Discover Q & A

Leading Solution Library

Avail More Than 1416579 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1953235
Asked

3,689

Active Tutors

1416579

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment