Indicate whether each of the following is anexplicit cost or an implicit cost.a. A manager’s salaryb. Payments to Dell for computersc. A salary forgone by the owner of a firm byoperating his or her own companyd. Interest forgone on a loan an owner makes tohis or her own companye. Medical insurance payments a companymakes for its employeesf. Income forgone while going to colle
Indicate whether each of the following is anexplicit cost or an implicit cost.a. A manager’s salaryb. Payments to Dell for computersc. A salary forgone by the owner of a firm byoperating his or her own companyd. Interest forgone on a loan an owner makes tohis or her own companye. Medical insurance payments a companymakes for its employeesf. Income forgone while going to colle
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 9SQP
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Indicate whether each of the following is an explicit cost or an implicit cost. a. A manager’s salary b. Payments to Dell for computers c. A salary forgone by the owner of a firm by operating his or her own company d. Interest forgone on a loan an owner makes to his or her own company e. Medical insurance payments a company makes for its employees f. Income forgone while going to colle |
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