The things that must be forgone to acquire a good are called ( )
A. implicit costs.
B. opportunity costs.
C. explicit costs.
D. accounting costs.
查看答案
The value of a business owner's time is an example of ( )
A. an opportunity cost.
B. a fixed cost.
C. an explicit cost.
D. total revenue.
Which of the following statements is correct? ( )
A. Opportunity costs equal explicit minus implicit costs.
B. Economists consider opportunity costs to be included in a firm’s total revenues.
C. Economists consider opportunity costs to be included in a firm’s costs of production.
D. All of the above are correct.
An example of an explicit cost of production would be the ( )
A. cost of forgone labor earnings for an entrepreneur.
B. lost opportunity to invest in capital markets when the money is invested in one's business.
C. lease payments for the land on which a firm’s factory stands.
D. Both a and c are correct.
A monopoly ( )
A. can set the price it charges for its output and earn unlimited profits.
B. takes the market price as given and earns small but positive profits.
C. can set the price it charges for its output but faces a downward-sloping demand curve so it cannot earn unlimited profits.
D. can set the price it charges for its output but faces a horizontal demand curve so it can earn unlimited profits.
微信支付 
支付宝支付