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:
• Marginal costs and average variable costs are equal when
• Implicit cost of a factor of production is determined by its
• 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:
• Costs incurred only when production occurs are known as:
• If average variable costs fall as output grows:
• In economic theory the costs of a firm