--%>

Implicit Costs-Earning income

The economic cost borne by you as the college student which would be ignored by the bookkeeper whenever computing costs however that economists would consider the implicit cost of your education would be: (1) Food, similar costs and rent which you would incur even when you were not in college. (2) Income you could earn when you were not attending the classes. (3) Your tuition expenses. (4) The differences among what you paid for textbooks at the starting of a semester and the amounts you can sell them for at the end of semester. (5) Student laboratory fees and activities fees.

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

   Related Questions in Microeconomics

  • Q : Individual demand and market demand

    Individual demand and market demand schedules: Individual demand schedule states the quantities required by an individual consumer at various prices.

    Q : Asset demand Select the right answer of

    Select the right answer of the question. The asset demand for money: A) is unrelated to both the interest rate and the level of GDP. B) varies inversely with the rate of interest. C) varies inversely with the level of real GDP. D) varies directly with the level of nom

  • Q : Economic efficiency of purely

    Most economists favor purely competitive markets since they tend to as: (1) economies of scale. (2) large profits. (3) mutual interdependence. (4) corporate organizations. (5) economic efficiency. Hello guys I want

  • Q : Maximizes profits when price equal to

    A purely competitive firm will turn out where P = MC since this: (w) is good for society. (x) is all which is permitted through law. (y) maximizes profits. (z) permits price adjustment although not quantity adjustment.

    Q : Federal government antitrust suit Movie

    Movie producers A, B, and C secretly meet and agree to release their summer blockbuster films in sequence, rather than at the same time. The U.S. Justice Department learns of the agreement and files an antitrust suit. The Federal government would most likely file ch

  • Q : Illustrate progressive tax rates The

    The burden of taxation would become additional progressive when federal taxes were reformed in that case: (1) fewer business firms were capable to evade corporate profit taxes. (2) steeper taxes were levied on that harmful goods as alcohol and tobacco. (3) the proport

  • Q : Problem on Marginal resource costs Can

    Can someone help me in finding out the right answer from the given options. The synonymous words marginal factor costs or the marginal resource costs signify to the: (i) Cost incurred in generating an additional unit of capital. (ii) Cost to the resource owner of secu

  • Q : Determine constant elasticities of

    Which of the given demand curves have constant elasticities of demand as follows: (w) A vertical demand curve. (x) A horizontal demand curve. (y) A rectangular hyperbola. (z) All of the above. Hello guys I want you

  • Q : Price inelastic over relevant range of

    When the market demand for wheat is price inelastic over relevant range of prices, fluctuations within the supply of wheat will cause incomes of wheat farmers to: (w) increase when supply decreases and decline while the supply of whea

  • Q : Problem relating to supply curve Can

    Can someone help me in finding out the right answer from the given options. The supply curve reveals the highest: (i) Stock on hand in inventory. (ii) Gains a firm makes by selling varying quantity of a good. (iii) Quantity of a good which sellers will offer at differ