Accounting costs represent
A) explicit costs paid by the firm.
B) opportunity costs.
C) both sunk and future costs.
D) long run costs only.
Answer: A
You might also like to view...
Refer to the scenario above. Which of the following will be true if Harry is known to be trustworthy?
A) The outcome will be a Nash equilibrium. B) The equilibrium outcome will be socially inefficient. C) Unique equilibrium will not occur. D) Multiple equilibria will occur.
The most used tool of the Fed is:
A. open market operations. B. the reserve requirement. C. the discount window. D. These are all used with equal frequency.
Table 7.2 contains price, demand, and cost data for the Capri Theater, the only first-run movie theater in a small town. What is its revenue from non-students under the single price policy?
A. $300 B. $360 C. $450 D. $540
The efficient congestion tax is zero when:
A. everyone can travel safely at the posted speed limit. B. there are no other cars on the road. C. there are no traffic accidents on a stretch of highway. D. carpool lanes are available.