Multiple Choice
Suppose a firm has the following expenditures per day: $240 for wages,$150 for materials,and $80 for equipment rental.The owner of the firm owns the building in which it operates.If the firm were not operating in the building,he could rent the building for $70 per day.Total daily revenue is $600.
-What are the daily implicit costs for the firm described above?
A) $70
B) $80
C) $150
D) $220
Correct Answer:
Verified
Correct Answer:
Verified
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