All of the following are examples of explicit cost a firm might incur except
A) taxes owed to the state government.
B) the revenue a firm generates in using its resources.
C) the rental value of the warehouse space the company owns and uses for itself.
D) the out-of-pocket expense to hire employees.
C
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In December 2009, currency outside of banks was $400 billion, traveler's checks were $5 billion; checkable deposits owned by individuals and businesses were $600 billion, saving deposits were $2,000 billion, time deposits were $1,500 billion; and
money market funds were $1,200 billion. What was the M2 in December 2009? A) M2 = $5,705 billion B) M2 = $3,705 billion C) M2 = $1,005 billion D) M2 = $2,505 billion E) M2 = $5,700 billion
Which of the following is a characteristic of a perfectly competitive market?
A. A few large firms B. Firms producing specialized products in order to attract consumers C. Each individual firm having some control over the market price D. A large number of small firms
The marginal cost curve intersects the minimum point of the average variable cost curve
a. True b. False
With respect to health care decisions, which party is the "third" party?
A. The doctor B. The federal regulator C. The health insurance company D. The patient