The Economic Cost to the Owners of a Firm for Using

Multiple Choice

The economic cost to the owners of a firm for using productive resources

A) is measured fully by the explicit or out-of-pocket expenses incurred when the firm uses resources it purchases in the market.
B) does not include implicit costs associated with resources the firm already owns.
C) is the total opportunity cost of all resources used by the firm.
D) is measured by the sum of the explicit costs of market supplied resources plus the implicit costs of owner-supplied resources.
E) both c and d