Multiple Choice
Assume that a firm already owns a machine that has a total life of 20 years. The cost of using the machine for one year to produce good A is
A) the maximum the machine could have earned for the firm in some alternative use during the year in question.
B) the value of one year's output of good A.
C) a twentieth of what the firm paid for the machine in the first place.
D) the scrap value of the machine at the end of its life.
Correct Answer:
Verified
Correct Answer:
Verified
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