WitrynaMCQs on the Cost Concept The idea of cost is the financial value of materials, resources, risks, time, and energy required to purchase products and services. ... Answer: (c) implicit cost. Explanation: An implicit expense is any expense that has already been incurred but has not been declared an independent expenditure. It is an … WitrynaThe implicit costs are the opportunity costs incurred when a firm uses resources that it already owns, such as expanding a factory on land it already owns. Table of contents ... What is the implicit cost to a firm Mcq? Interest on owned money capital is an unspoken production cost. Implicit Cost refers to expenses for which no money is exchanged.

[Solved] Implicit costs are: - McqMate

Witrynaa. includes both explicit and implicit costs b. includes explicit costs only c. includes implicit costs only A. Explicit costs are opportunity costs of a firms resources that take the form of cash payments, for example, rent, mortgage, supplies, utilities, raw materials etc. Implicit costs are a firms opportunity cost of using its own resources ... WitrynaEconomic costs are the sum of _____ and _____. 1.Explicit costs; implicit costs, 2.Implicit costs; explicit costs, 3.Increases; increases, 4.None of these rags 2 riches 1 hour

Implicit cost is equal to: - Bayt.com

WitrynaWhat are Implicit Costs? a. The excess of estimated future profit than the normal profit b. The amount of consolidated net income of the Company for such Financial … WitrynaImplicit costs are: A. equal to total fixed costs: B. comprised entirely of variable costs: C. “payments” for self-employed resources: D. always greater in the short run than in … WitrynaA. Value of inputs owned by the firm and used in its own manufacturing process. B. Value of input or services purchased from outside and used in its own manufacturing process. C. Value of inputs owned by the firm and sold to others. D. Value of inputs or services for which no payments were made to outside. ragrund towel rack chair