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To an Individual Firm,its Costs Represent

Question 12

Multiple Choice

To an individual firm,its costs represent


A) gross income to the firm resulting from its ownership of the means of production.
B) profits that accrue to those internally supplied inputs.
C) the payments to owners of resources needed to bid these resources from alternative uses.
D) the value of the assets used in the production process.
E) the monetary sum of the variety of alternatives open to its resources.

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