Owner-supplied labor is a cost that is usually:    included in both accounting costs and economic costs.    included in accounting costs but not in economic costs.    included in economic costs but not in accounting costs.    not included in either accounting costs or economic costs.    ignored because it is impossible to place a value on it

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter3: Benefits, Costs, And Decisions
Section: Chapter Questions
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Owner-supplied labor is a cost that is usually:

 

 included in both accounting costs and economic costs.

 

 included in accounting costs but not in economic costs.

 

 included in economic costs but not in accounting costs.

 

 not included in either accounting costs or economic costs.

 

 ignored because it is impossible to place a value on it.

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