The total cost of the firm
A) includes explicit costs but excludes implicit costs.
B) includes implicit costs but excludes explicit costs.
C) includes implicit and explicit costs.
D) includes implicit and explicit costs but excludes a normal rate of return on investment.
Answer: C
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If individuals decide to save more for retirement,
A) the supply of loanable funds will shift rightward. B) the supply of loanable funds will shift leftward. C) the demand for loanable funds will shift rightward. D) the demand for loanable funds will shift leftward. E) an excess supply of loanable funds emerges and persists.
The most likely reason why Los Angeles has so much smog is that residents
a. do not have strong, enforceable property rights to rapid transit b. do not have strong, enforceable property rights to clean air c. prefer dirty air to the inconvenience of rapid transit d. prefer dirty air to the inconvenience of carpools e. prefer dirty air to the inconvenience of eliminating smog
The budget deficit is the amount by which a government's expenditures exceed its receipts
a. True b. False Indicate whether the statement is true or false
What are the benefits of capital mobility?
What will be an ideal response?