The value of a business owner's time is not an example of
A: an opportunity cost.
B: a fixed cost.
C: an explicit cost.
D: total revenue.
A: an opportunity cost.
B: a fixed cost.
C: an explicit cost.
D: total revenue.
举一反三
- The value of a business owner's time is an example of_________. A: a fixed cost B: an opportunity cost C: total revenue D: an explicit cost
- In short run the shutdown point is that point at which A: price equals marginal cost. B: average fixed cost equals marginal cost. C: average variable cost equals marginal cost. D: average total cost equals marginal cost.
- A perfectly competitive firm maximizes its profit by producing the output at which its marginal cost equals its ____ A: marginal revenue B: average total cost C: average variable cost. D: average fixed cost.
- Opportunity cost of an action is A: the best choice that can be made. B: the money cost. C: the absolute cost. D: the comparative cost. E: the highest-valued alternative forgone.
- A profit-maximizing monopolist will produce the level of output at which A: average revenue is equal to average total cost. B: average revenue is equal to marginal cost. C: marginal revenue is equal to marginal cost. D: total revenue is equal to opportunity cost.