Implicit Costs definition, The Implicit costs are: (i) The opportunity costs of

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.

View Complete Question

Related Questions in Microeconomics

Q : Labor Unions-Public Employees I have a

I have a problem in economics on Labor Unions-Public Employees. Please help me in the following question. Workers who are now permitted to join unions however who still might not legally strike comprise: (1) Civilian federal employees. (2) Medical pro

Q : Example to illustrate non-tariff trade

Imports and American cars are close nevertheless not ideal substitutes. When the U.S. government tried to boost American car sales through setting a price ceiling of P1 upon imported cars in that case: (w) the quantity of cars imported will

Q : Monopolistic competition and oligopoly

One of my friends can't succeed to get the solution of this question. Give me solution of this question. Under what circumstances can monopolistic competition and oligopoly describe stable prices?

Q : Technological advancement influencing

Describe how technological advancement influence the supply of specific product.

Q : Break Even Income A marginal tax rate

A marginal tax rate of 50 percent and an income floor of $6,500 yield a break even income of: (w) $3,250. (x) $6,500. (y) $9,750. (z) $13,000. I need a good answer on the topic of Economics

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.

Q : Total revenue raised by output

A firm’s total revenue can definitely be raised by decreasing its output when: (1) its supply curve is perfectly price inelastic. (2) the demand curve for its output is relatively income inelastic. (3) this is currently losing money each period.

Q : Accounting profit when implicit cost

Can someone please help me in finding out the accurate answer from the following question. When implicit cost surpasses implicit revenue and economic profit is zero (0), then accounting profit is: (1) Bigger than zero. (2) Zero. (3) Less than 0 (zero). (4) Not specifi

Q : Unionized construction workers The

The passage of a considerably higher legal minimum wage would be most probable to advantage: (1) Philosophy majors. (2) American high-school drop-outs in their teens. (3) Foreign workers whose manufacture is exported to the United States. (4) Unionized construction wo

Q : Seller in a monopoly market structure A

A monopoly is a type of market structure in that one: (w) seller makes up the industry. (x) giant firm is a price taker. (y) barrier to entry exists. (z) giant firm is the particular buyer of resources.

Discover Q & A

Leading Solution Library

Avail More Than 1429463 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1945839
Asked

3,689

Active Tutors

1429463

Questions
Answered

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

Submit Assignment