--%>

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 : Opponents of the current welfare system

    Opponents of the current welfare system who desire the welfare system scaled down tend to argue which this: (1) has constantly experienced funding cuts for the past decade. (2) cannot succeed in helping poor people within a market economy. (3) stimula

  • Q : Substitution effect on supply curves

    One of the reasons for positive relationship among relative price and quantity supplied is the: (1) Technology effect, whereby bigger firms generate at lower average costs than the smaller firms. (2) Substitution effect, whereby firms switch among for

  • Q : Explain Subsidiary function Elucidate

    Elucidate the Secondary or Subsidiary function? Answer: 1) Standard of deferred payments: Money is executing as deferred Payment

  • Q : Price consistent with profit-maximizing

    HoloIMAGine has patented a holographic technology which creates 3-D photography obtainable to consumers. So the price consistent along with HoloIMAGine's profit-maximizing output would be of: (1) price P1. (2) price P2. (3) price

  • Q : Theory of Monopolistic Competition The

    The theory of monopolistic competition was developed through: (1) Alfred Marshall. (2) John Maynard Keynes. (3) Joseph Schumpeter. (4) Edward Chamberlin. (5) Antoine Augustin Cournot. Please choose the right answer

  • Q : Calls of negative income tax Negative

    Negative income tax proposals call for: (w) paying $1 in taxes on every dollar of transfer payments. (x) reducing welfare benefits by levying higher income taxes. (y) instituting consistent work incentives for welfare recipients. (z) establishing a ne

  • Q : Illustration of arbitrage in financial

    Darlene thinks as the “cowboy look” will rebound sharply subsequent spring. Then she travels to Mexico and buys ten-thousand pairs of primo cowboy boots at $35 every, and after that waits, expecting to sell them for $350 a pair in Chicago within the spring

  • Q : Question on elasticity of demand Select

    Select the right ans wer of the question. The demand for agricultural products is: A) relatively elastic with respect to price. B) relatively inelastic with respect to price. C) relatively elastic with respect to income. D) downward sloping to the individual farmer, b

  • Q : Income floor by marginal tax rate A

    A marginal tax rate of 75 percent and an income floor of ____ give in a break-even level of income of $8,000. (w) $2,000. (x) $4,000. (y) $6,000. (z) $16,000. Hello guys I want you

  • Q : Price Rigidity Price Rigidity: The

    Price Rigidity: The other significant feature of oligopoly is price rigidity. Price is rigid or sticky at the prevailing level due to the fear of reaction from the rival firms. When an oligo