--%>

Implicit Costs definition

The Implicit costs are: (i) The opportunity costs of resources contributed by the firm’s owner. (ii) Costs that need a cash outlay. (iii) Usually comprised in the computation of accounting profit. (iv) Fictional costs which do not influence the production.

Can someone please help me in finding out the accurate answer from the above options.

   Related Questions in Microeconomics

  • Q : Proprietorships-Limited liability Which

    Which of the given below is not a benefit of the sole proprietorship? (i) Limited liability. (ii) Easiness of organization. (iii) Flexibility. (iv) Freedom from govt. regulation. Choose the right answer from the above options.

  • Q : Unitarily price elastic supply for

    Supply is unitarily price elastic for all quantities and prices upon: (i) supply curve S1. (ii) supply curve S2. (iii) supply curve S3. (iv) supply curve S4. (v) supply curve S5.

    Q : Long run equilibrium for a purely

    In long-run equilibrium for a purely competitive firm: (w) MC = P = MR = min.(LRAC). (x) MC = TR = PQ = AVC. (y) LRAC = PQ = TVC + TFC = MR. (z) P = Q = wL + rK = Y. Can anybody suggest me the proper explanation fo

  • Q : Profit-maximizing price and output

    Unlike a purely competitive firm, a monopolist can: (w) select a price and sell as much as this needs (x) equate marginal revenue as well as marginal cost to maximize profits. (y) produce any required amount and sell as much as this d

  • Q : Purely competitive firm maximizing

    A purely competitive firm maximizes profit through producing where is: (w) P = ATC. (x) P = MR = MC. (y) PQ = TC. (z) AFC = AVC. I need a good answer on the topic of Economics problems. Please give

  • Q : Price elasticity of demand at high and

    Moving by left to right along demand curve D, then price elasticity of demand for cheesy fried grits of Pixie is mostly: (w) positive, then unitary, then negative. (x) constant and equivalent to one. (y) greater at high prices than at low prices. (z)

  • Q : Average retail price and the consumer

    Table illustrates the average retail price of milk and the Consumer Price Index from the year 1980 to 1998.

    Q : Resolving principal-agent problems I

    I have a problem in economics on Resolving principal-agent problems. Please help me in the following question. Attempts to resolve the principal-agent problems among stockholders and top corporate managers (that is, CEOs) comprise: (i) Profit-sharing systems for the t

  • Q : Monopsony power in the labor market The

    The firm with monopsony power in labor market: (1) Can hire any significant amount of labor devoid of affecting the wage. (2) Can pay any wage it wishes. (3) Must pay a higher wage when it hires more labor. (4) Must pay a lower wage when it hires more

  • Q : Unitarily price elastic while small

    When small raises or decreases within the price of generic bananas do not influence the total sales revenue from bananas, in that case the market demand for generic bananas is: (i) perfectly price elastic. (ii) perfec