Mark owns a ranch in Colorado that costs $3.76 million per year to operate. Of that, his explicit cost equals $3.29 million. Therefore his actual monetary cost of running the ranch is:
a. $3.29 million.
b. over $7 million.
c. $470,000.
d. $3.76 million.
Ans: a. $3.29 million.
You might also like to view...
Which of the following is the most likely to be a variable factor of production at a university?
A. The size of the student union. B. The size of the football stadium. C. The location of the university. D. The number of librarians.
Refer to Figure 12-2. The firm breaks even at an output level of
A) Q1 units. B) Q2 units. C) Q3 units. D) Q4 units.
Adding members to a military alliance _____
a. will always strengthen the alliance b. will cause the alliance to dissolve c. might weaken the alliance d. will always weaken the alliance
In the market for loanable funds in an open economy, international investment captures all of the following sources except:
A. capital outflow. B. capital inflow. C. money invested outside its originating country. D. national savings.