The payment for current rather than future command over resources is
A) an implicit cost.
B) an implicit benefit.
C) interest.
D) opportunity cost.
C
You might also like to view...
Because monopolists charge a price in excess of marginal cost, it must be the case that monopolists:
A. produce more than the socially optimal level of output. B. earn a positive economic profit. C. produce less than the socially optimal level of output. D. earn a negative economic profit.
Which of the following is an example of a consumption expenditure?
A) the purchase of a ticket to a New Orleans Saints game B) the salary paid to the mayor of Denver C) the construction of a new public library D) the purchase of a new fire truck
Many people consider hot dogs to be an inferior good. For such people, all else held constant, a decrease in income would cause their demand for hot dogs to:
A) increase. B) stay the same. C) decrease. D) cannot be determined with the information given.
What is the 4-firm concentration ratio of an industry with 25 firms each having an equal market share?
a. .16. b. .24. c. .20. d. .12.