Implicit Costs-Value of time

Congratulations! You have made a fortune after establishing the firm which publishes bestselling books of the economic poetry. Your implicit costs comprise: (1) Salaries for your firm’s website designer. (2) The value of your time. (3) Fees for cleaning the services which you have outsourced. (4) Rent you pay on your organization building. (5) Electricity to running huge offset printers.

Find out the right answer from the above options.

View Complete Question

Related Questions in Microeconomics

Q : Corporate Finance and Retained Earnings

I have a problem in economics on Corporate Finance and Retained Earnings. Please help me in the following question. The corporate income reserved by the corporation subsequent to paying corporate income taxes and dividends to the owners of general sto

Q : Vietnam divided into two different

Why Vietnam divided into two different nations?

Q : Purely competitive or monopolies or

Compared to either purely competitive firms or oligopolists, monopolies are: (w) more probable to consider the possible reactions of other firms. (x) oblivious to the actions of other firms. (y) less likely to engage

Q : Equilibrium outputs in long-run entry

Long-run supply curve of a purely competitive industry: (w) equals the horizontal summation of all firms’ short-run supply curves. (x) reflects equilibrium outputs after entry and exit respond completely to any shifts in demand. (y) declines as

Q : Labor Unions and Antitrust The legality

The legality of trade unions as the labor monopolies and illegality of the monopolies in product markets is most rationally described by the: (i) Trade union’s interest in the social welfare and firm’s interest only in gains. (ii) Number of people who adva

Q : State drawbacks of barter system State

State drawbacks of barter system: A) Both sale and purchase must take place concurrently implying double coincidence of wants. B) There is no general unit of exchange in barter system, accordingly exchange s

Q : Market Demand versus Individual Demand

What is the difference between Market Demand and Individual Demand?

Q : Predatory behaviour in increase price

Predatory behavior would not comprise: (w) lowering prices. (x) expanding output. (y) rapid technological innovation. (z) raising prices. Can anybody suggest me the proper explanation for given problem regarding

Q : Price elasticity of supply problem The

The price elasticity of supply generally evaluates the ratio of relative: (i) Gain to the amounts firms supply at different prices. (ii) Price increase need to induce a firm to raise output. (iii) Change in the quantity supplied to a associative chang

Q : Question on production possibilities

Refer to the given diagram. Which of the following positions relative to PP1 would be the most likely to result in a future production possibilities curve of PP3, rather than PP2 ? 1) A. 2) B. 3) C. 4) D.

Discover Q & A

Leading Solution Library

Avail More Than 1419496 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1956566
Asked

3,689

Active Tutors

1419496

Questions
Answered

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

Submit Assignment