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ECON102 EXAM #3 QUESTIONS AND ANSWERS 100% SOLVED
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ECON102 EXAM #3 QUESTIONS AND ANSWERS 100% SOLVED Explicit costs: A. measure the opportunity costs of the business owners. B. are always fixed in the short run. C. measure the payments made to the firm's factors of production. D. are always variable in the short run. ️️C. measure the payments made to the firm's factors of production. If you were to start your own business, your implicit costs would include: A. rent that you have paid in advance for use of a building. B. the opportunity cost of your time. C. profit over and above normal profit. D. interest that you pay on your business loans. ️️B. the opportunity cost of your time
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questions and answers 100 solved
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