Homework Answers
Answer : The answer is option A.
For firm's cost accountants include only the explicit cost. But economists include both the explicit cost and the implicit cost. Therefore, option A is correct.
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Accountants include costs as part of a firm's costs, while economists include costs. O A. explicit;...
Accountants include costs as part of a firm's costs, while economists include _______ costs. O A....
Accountants include costs as part of a firm's costs, while economists include _______ costs. O A. explicit; explicit and implicit OB. implicit; no implicit O C. explicit; no explicit OD. explicit and implicit; implicit
What costs do economists include when calculating profit? Select 2 answers apply: explicit costs implicit costs...
What costs do economists include when calculating profit? Select 2 answers apply: explicit costs implicit costs variable costs fixed costs Question 40 Variable costs refer to __________ that can easily be increase or decreased in a __________ period. Select the correct answer below: outputs, long outputs, short inputs, long inputs, short FEEDBACK In addition to rent and profit for entrepreneurship , what else do factor payments include? Select the correct answer below: raw material prices profit interest and dividends...
A firm's total revenue equals $800. Its explicit costs equal $300 and its implicit costs equal...
A firm's total revenue equals $800. Its explicit costs equal $300 and its implicit costs equal $400. The firm's economic profit equals __________ and its accounting profit equals __________. $100; 500 -$100; $200 $400; -$300 $1,200; $1,500 $400; $100
Which of the following statements about explicit costs is true? Select one: a. They are the...
Which of the following statements about explicit costs is true? Select one: a. They are the only costs that matter to business owners b. They usually exceed implicit costs. Oc. They are difficult to measure. O d. They appear on the firm's balance sheet.
The explicit and implicit costs for Reliance Publishing are shown below: Wages paid to employees Funds...
The explicit and implicit costs for Reliance Publishing are shown below: Wages paid to employees Funds spent on equipment Raw materials Wages foregone in another job Cost $122,000 $112,000 $73,000 $171,000 The explicit costs for Reliance Publishing are 5 (Enter your response as a whole number.) The accounting cost for Reliance is O A. $307,000 O B. $234,000 OC. $122,000 OD. $478,000
what is the total number of atoms in molecules reacting b. times total cost. c. minus...
what is the total number of atoms in molecules reacting
b. times total cost. c. minus total cost. d. divided by total cost. 4. A firm's opportunity costs of production are equal to its a. explicit costs only b. implicit costs only. c. explicit costs+ implicit costs. d. explicit costs + implicit costs+ total revenue. 5. Explicit costs a. require an outlay of money by the firm. b. include all of the firm's opportunity costs. c. include the value of...
Which of the following is an example of something that economists would consider a cost but...
Which of the following is an example of something that economists would consider a cost but accountants would not? O A. the cost of advertising B. the interest income foregone by the firm's owner because the owner invested funds into the firm O C. the salary that the firm actually pays to the firm's owner O D. the cost of materials and supplies purchased by a firm
9:10 + Exit Question 7 2 pts Accounting costs represent explicit costs paid by the firm....
9:10 + Exit Question 7 2 pts Accounting costs represent explicit costs paid by the firm. opportunity costs. both sunk and future costs. long run costs only. Question 8 2 pts Explicit costs are the opportunity costs of all resources used by the firm. the costs associated with the resources that the firm owns. O actual expenditures that a firm must make. all costs associated with the short run. 9:10 + As a firm's production increases in the short run,...
If an accountant were to calculate total cost, the accountant would be sure to include only...
If an accountant were to calculate total cost, the accountant would be sure to include only implicit costs. Oinclude only explicit costs include both implicit and explicit costs include neither implicit nor explicit costs. D | Question 5 A business pays incom taxes on O its economic profht. O its accounting proft O its marginal revenue. its total revenue. D Question 6 The choices regarding future production for a business owner is most influenced by her O economic costs. O...
Please help with these questions, Question 21 0.16 pts One difference between implicit costs and explicit...
Please help with these questions,
Question 21 0.16 pts One difference between implicit costs and explicit costs is that implicit costs are included in economic profits, whereas explicit costs are not. explicit costs are included in economic profits, whereas implicit costs are not. O implicit costs are included in accounting profits, whereas explicit costs are not. explicit costs involve opportunity costs, whereas implicit costs involve a monetary transaction. explicit costs are included in accounting profits, whereas implicit costs are not....
Accountants include costs as part of a firm's costs, while economists include _______ costs. O A. explicit; explicit and implicit OB. implicit; no implicit O C. explicit; no explicit OD. explicit and implicit; implicit
Which of the following statements about explicit costs is true? Select one: a. They are the only costs that matter to business owners b. They usually exceed implicit costs. Oc. They are difficult to measure. O d. They appear on the firm's balance sheet.
The explicit and implicit costs for Reliance Publishing are shown below: Wages paid to employees Funds spent on equipment Raw materials Wages foregone in another job Cost $122,000 $112,000 $73,000 $171,000 The explicit costs for Reliance Publishing are 5 (Enter your response as a whole number.) The accounting cost for Reliance is O A. $307,000 O B. $234,000 OC. $122,000 OD. $478,000
what is the total number of atoms in molecules reacting
b. times total cost. c. minus total cost. d. divided by total cost. 4. A firm's opportunity costs of production are equal to its a. explicit costs only b. implicit costs only. c. explicit costs+ implicit costs. d. explicit costs + implicit costs+ total revenue. 5. Explicit costs a. require an outlay of money by the firm. b. include all of the firm's opportunity costs. c. include the value of...
Which of the following is an example of something that economists would consider a cost but accountants would not? O A. the cost of advertising B. the interest income foregone by the firm's owner because the owner invested funds into the firm O C. the salary that the firm actually pays to the firm's owner O D. the cost of materials and supplies purchased by a firm
9:10 + Exit Question 7 2 pts Accounting costs represent explicit costs paid by the firm. opportunity costs. both sunk and future costs. long run costs only. Question 8 2 pts Explicit costs are the opportunity costs of all resources used by the firm. the costs associated with the resources that the firm owns. O actual expenditures that a firm must make. all costs associated with the short run. 9:10 + As a firm's production increases in the short run,...
If an accountant were to calculate total cost, the accountant would be sure to include only implicit costs. Oinclude only explicit costs include both implicit and explicit costs include neither implicit nor explicit costs. D | Question 5 A business pays incom taxes on O its economic profht. O its accounting proft O its marginal revenue. its total revenue. D Question 6 The choices regarding future production for a business owner is most influenced by her O economic costs. O...
Please help with these questions,
Question 21 0.16 pts One difference between implicit costs and explicit costs is that implicit costs are included in economic profits, whereas explicit costs are not. explicit costs are included in economic profits, whereas implicit costs are not. O implicit costs are included in accounting profits, whereas explicit costs are not. explicit costs involve opportunity costs, whereas implicit costs involve a monetary transaction. explicit costs are included in accounting profits, whereas implicit costs are not....
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