Implicit cost of a factor of production is determined by its

Related MCQs

• Which would be an implicit cost for a firm? The cost:
• The difference between GNP at Factor Cost and NNP at Factor Cost is:
• Implicit costs are:
• If you know that with 8 units of output, average fixed cost is Rs. 12.50 and average variable cost is Rs. 81.25, then total cost at this output level is:
• In long run, which factor of production is fixed?
• If a firm’s average cost is Rs.32 at 6 units of output and Rs.34 at 7 unit, which one among the following is the marginal cost of producing the 7th unit
• The Long run Average Cost curve (LAC) in modern cost theory is roughly
• Suppose a firm sells its product at a price lower than the opportunity cost of the inputs used to produce it. Which is true?
• APC is determined by the following equation:
• The market equilibrium for a commodity is determined by: