📊 MicroEconomics, Theory and Applications 1
Q. Implicit costs are:
  • (A) equal to total fixed costs
  • (B) comprised entirely of variable costs
  • (C) “payments” for self-employed resources
  • (D) always greater in the short run than in the long run
💬 Discuss
✅ Correct Answer: (C) “payments” for self-employed resources

You must be Logged in to update hint/solution

💬 Discussion

Related Posts

Q. If a small percentage increase in the price of a good greatly reduces the quantity demanded for that good, the demand for that good is

Q. Which best expresses the law of diminishing marginal utility?

Q. Which of the following would cause a demand curve for a good to be price inelastic?

Q. The law of supply states that an increase in the price of a good:

Q. Which is not a fixed cost?

Q. A model of Game Theory of oligopoly is known as the:

Q. CES production function is

Q. In a cartel, member firms may be given a fixed amount to produce. This amount is called

Q. Which of the following would decrease the supply of wheat?

Q. The law of diminishing returns only applies in cases where:

📱 Download Our App

Learn MCQs on the go with our easy-to-use Android app

Get it on Google Play

📊 Question Analytics

👁️
495
Total Visits
📽️
1 y ago
Published
🎖️
Vijay Sangwan
Publisher
📈
84%
Success Rate