Which of the following is an implicit cost of production? 16: A) the utility bill paid to water, electricity, and natural gas companies B) the loss in the value of capital equipment due to wear and tear C) the salary you pay yourself for running your business D) the interest you pay your mother for the money she loaned you to start your business
Which of the following is an implicit cost of production? 16: A) the utility bill paid to water, electricity, and natural gas companies B) the loss in the value of capital equipment due to wear and tear C) the salary you pay yourself for running your business D) the interest you pay your mother for the money she loaned you to start your business
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter7: Production, Inputs, And Cost: Building Blocks For Supply Analysis
Section: Chapter Questions
Problem 9TY
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Which of the following is an implicit cost of production?
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