Answered: To the economist, total cost includes…

To the economist, total cost includes Multiple Choice O O O O explicit and implicit costs. neither implicit nor explicit costs. implicit, but not explicit, costs. explicit, but not implicit, costs.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

To the economist, total cost includes
Multiple Choice
explicit and implicit costs.
neither implicit nor explicit costs.
O implicit, but not explicit, costs.
explicit, but not implicit, costs.

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