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What are the items that make opportunity cost differ from the accountant's measure of cost? A firm's opportunity cost includes O A. the cost of using resources bought in the market, owned by the firm, and supplied by the firm's owner B. only costs that are paid in cash or by cheque O C. the cost of using resources supplied by the firm's owner only D. the cost of using resources bought in the market and owned by the firm only Consider how the following, which are part of a firm's opportunity cost, are treated by accountants. Interest forgone in an accountant's measure of cost. Normal profit O A. is not included; is included B. is included; is included OC. is not included; is not included O D. is included; is not included in an accountant's measure of cost

What are the items that make opportunity cost differ from the accountant's measure of cost? A firm's opportunity cost includes O A. the cost of using resources bought in the market, owned by the firm, and supplied by the firm's owner B. only costs that are paid in cash or by cheque O C. the cost of using resources supplied by the firm's owner only D. the cost of using resources bought in the market and owned by the firm only Consider how the following, which are part of a firm's opportunity cost, are treated by accountants. Interest forgone in an accountant's measure of cost. Normal profit O A. is not included; is included B. is included; is included OC. is not included; is not included O D. is included; is not included in an accountant's measure of cost

Principles of Microeconomics
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter13: The Cost Of Production
Section: Chapter Questions
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What are the items that make opportunity cost differ from the accountant's measure of cost? A firm's opportunity cost includes O A. the cost of using resources bought in the market, owned by the firm, and supplied by the firm's owner B. only costs that are paid in cash or by cheque OC. the cost of using resources supplied by the firm's owner only D. the cost of using resources bought in the market and owned by the firm only Consider how the following, which are part of a firm's opportunity cost, are treated by accountants. Interest forgone in an accountant's measure of cost. Normal profit O A. is not included; is included B. is included; is included OC. is not included; is not included O D. is included; is not included in an accountant's measure of cost.
Transcribed Image Text:What are the items that make opportunity cost differ from the accountant's measure of cost? A firm's opportunity cost includes O A. the cost of using resources bought in the market, owned by the firm, and supplied by the firm's owner B. only costs that are paid in cash or by cheque OC. the cost of using resources supplied by the firm's owner only D. the cost of using resources bought in the market and owned by the firm only Consider how the following, which are part of a firm's opportunity cost, are treated by accountants. Interest forgone in an accountant's measure of cost. Normal profit O A. is not included; is included B. is included; is included OC. is not included; is not included O D. is included; is not included in an accountant's measure of cost.
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