Which of the following is an example of an “Explicit cost” :
A. The wages a properitor could have earned by working as an employee of a large firm.
B. The income that could have been earned in alternative uses by the resources owned by the firm.
C. The payment of wages by the firm.
D. The normal profit earned by a firm.
Answer:C
Which of the following is an example of an “Explicit cost” :
A. The wages a properitor could have earned by working as an employee of a large firm. B. The income that could have been earned in alternative uses by the resources owned by the firm. C. The payment of wages by the firm. D. The normal profit earned by a firm.