Which that the complying with constitutes one implicit cost to the Johnston production company?A. Payment of salaries to its office workersB. Rental paid for the usage of devices owned by the Schultz Machinery company C. Depreciation fees on company-owned devices D. Economic profits resulting from present production

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An explicit expense is:A. Omitted when bookkeeping profits space calculatedB. A money payment produced resources no owned by the firm itselfC. One implicit expense to the resource owner that receives paymentD. Always in excess of a resource"s possibility cost
The an easy characteristic the the brief run is that: A. Obstacles t entry prevent new firms from entering the market B.The for sure does not have sufficient time to adjust the size of its plantC.The firm does not have sufficient time to reduced its rate of output to zero
If the full variable price of 9 devices of output is \$90 and also the full variable price of 10 systems of calculation is \$120, then:A.The mean variable price of 10 units is \$10B.The typical variable price of 9 units is \$10C.The marginal cost of the tenth unit is \$90D.The firm is operating in the range of enhancing marginal returns
A fixed cost is:A. Connected with any kind of productive resource whose price is fixedB. Any kind of cost which rises proportionately v output C. Any cost i beg your pardon a firm would incur even if calculation was zeroD. Associated with every inputs whose short-run it is provided is perfect inelastic
Average fixed cost:A. Equals marginal expense when average complete cost is at its minimum B. Might be found for any type of output by adding average variable cost and average full cost C. Graphs as a U-shaped curveD. Declines continually as output increases
When total product is boosting at an enhancing rate, marginal product is:A. Positive and increasing B. Positive and decreasing C. Consistent D. Negative
Which that the following is most likely to it is in a resolved cost?A. Shipping charges B. Home insurance premiums C. Earnings for unskilled job D. Expenditures for raw materials
Which that the complying with is most most likely to be a change cost?A. Fuel and also power payments B. Interest prices on organization loans C. Rental payment on IBM tools D. Real estate taxes
The vertical distance between ATC and also AVC reflects:A. The legislation of diminishing return B. The typical fixed cost at every level the outputC. Marginal price at each level of outputD. The existence of economic situations of scale
Assume the in the short run a firm is creating 100 devices of output, has actually average total costs the \$200, and also average variable costs of \$150. The firm"s complete fixed costs are:A. \$5000B. \$500C. \$.50D. \$50
If a for sure decides to develop no calculation in the brief run, its expenses will be:A. Its marginal costs B. Its resolved plus that variable expenses C. Its solved D. Zero

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