Implicit costs are:

Related MCQs

• With fixed costs of Rs.400, a firm has average total costs of Rs.3 and average variable costs of Rs.2.50. Its output is:
• Which would be an implicit cost for a firm? The cost:
• If a firm’s revenues just cover all its opportunity costs, then:
• Variable costs are:
• If the short-run average variable costs of production for a firm are rising, then this indicates that: