Which of the following best defines economic costs?

A. The incomes a firm must provide to stay at full employment.
B. The revenue a firm must earn to attract the resources it needs away from alternative production opportunities.
C. The monetary payments that a firm makes to purchase resources it does not own.
D. The value of all resources used to produce a good or service.

Question

kay1984 kay1984

15-07-2024
Business

Answered

At Westonci.ca, we connect you with the best answers from a community of experienced and knowledgeable individuals. Explore a wealth of knowledge from professionals across different disciplines on our comprehensive platform. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

Which of the following best defines economic costs?

A. The incomes a firm must provide to stay at full employment.
B. The revenue a firm must earn to attract the resources it needs away from alternative production opportunities.
C. The monetary payments that a firm makes to purchase resources it does not own.
D. The value of all resources used to produce a good or service.

Sagot :

Thank you for choosing our service. We're dedicated to providing the best answers for all your questions. Visit us again. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.

Select the correct answer.Venus is an average distance of 108.2 million kilometers from the Sun. Use the conversion factor [tex]1 \, \text{AU} = 1.5 \times 10^8

Which Roman town has mosaics discovered after being buried by volcanic ash?A) RomeB) AthensC) Pompeii

What is/are the primary cause(s) of permanent ocean currents? Question 4Select one: The sun warming equatorial ocean water. Seismic activity deep under water. T

A piecewise function [tex]$f(x)$[/tex] is defined as shown.[tex]\[ f(x)=\left\{\begin{array}{ll} -\frac{5}{4} x+90, & 0 \leq x\ \textless \ 40 \\ -\frac{3}

Which of the following actions should be taken to help prevent capsizing?A) Increase the weight on the side opposite the wind.B) Reduce the center of gravity by

Which method of reasoning involves making numerous observations until one feels confident in drawing generalizations and predictions from them?A. Falsifiability

\begin{tabular}{|l|l|}\hline Price of Water Bottles & Quantity of Water Bottles \\\hline[tex]$\$[/tex] 5.25[tex]$ & 200 \\ \hline$[/tex]\[tex]$ 4.25$[/t

Select the correct equations.Which equations represent hyperbolas?[tex]\[ \begin{array}{ll} \hline 1. \ 49x^2 - 98x - 64y^2 + 256y - 2,831 = 0 & 2. \ 100x^

What method is commonly used to characterize and analyze the structure of amorphous materials?a. X-ray diffractionb. Nuclear magnetic resonance spectroscopyc. S

Making Inferences in Informational Texts: TutorialRead the following excerpt."For a country said to be uninterested in its past, this would seem to be a giant e

GinnyAnswer GinnyAnswer · Answer 1 · 2024-07-15T14:56:26-04:00

Final answer:

Economic costs are the total opportunity costs of resources used by a firm, impacting economic profit calculations and long-term market decisions.

Explanation:

Economic costs refer to the total opportunity costs of all resources used by a firm, including explicit and implicit costs. Economic costs are crucial in determining economic profit, which is the difference between total revenue and total cost, considering both explicit and implicit costs. The decision to enter or leave a market in the long term is influenced by economic profits rather than accounting profits, as economic profits factor in the full economic costs of a firm's operation.

Learn more about Economic costs here:

https://brainly.com/question/41794653

Sagot :

Final answer:

Explanation:

Learn more about Economic costs here:

Other Questions