Question 5 The measure of the cost of a particular good in terms of what is given up to produce that good is called an explicit cost. an opportunity cost. a necessary cost. a dollar cost. a fixed cost.
Question 5 The measure of the cost of a particular good in terms of what is given up to produce that good is called an explicit cost. an opportunity cost. a necessary cost. a dollar cost. a fixed cost.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter7: Production, Costs, And Industry Structure
Section: Chapter Questions
Problem 23RQ: Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost,...
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Question 5
The measure of the cost of a particular good in terms of what is given up to produce that good is called
an explicit cost.
an
a necessary cost.
a dollar cost.
a fixed cost.
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