Multiple Choice
The forgone income that the owner of a business could have made by spending time working in another job is called:
A) explicit cost.
B) marginal cost.
C) total cost.
D) opportunity cost.
Correct Answer:
Verified
Correct Answer:
Verified
Q41: If marginal cost is greater than average
Q42: The marginal cost curve intersects the average
Q43: Refer to the graph shown. <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7145/.jpg"
Q44: The law of diminishing marginal productivity holds:<br>A)
Q45: Explicit revenue minus explicit measurable costs equals:<br>A)
Q47: Refer to the table shown. Diminishing
Q48: Refer to the following graph. <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7145/.jpg"
Q49: The marginal cost curve intersects the:<br>A) total
Q50: Refer to the table shown. If
Q51: You run a small business producing picture