Homework Answers
Accountants include explicit costs (explicit cost are firm's out of pocket expenditure that a firm must make) as part of a firm's costs, while economists include both explicit and implicit cost.
Answer: option A
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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;...
Accountants include costs as part of a firm's costs, while economists include costs. O A. explicit; explicit and implicit O B . explicit; no explicit O C. explicit and implicit; implicit OD. implicit; no 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...
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 follow is NOT an example of a statistical method economists use? O A....
Which of the follow is NOT an example of a statistical method economists use? O A. Most-squared error modeling OB. Instrumental variables estimation O C. Structural modeling OD. Difference-in-difference
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
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...
Saved Question 20 (1 point) The long run: O is longer in industries that take longer...
Saved Question 20 (1 point) The long run: O is longer in industries that take longer to make adjustments in input levels. ) depends on Search documents and file names for text f production being considered. O is defined as however long it takes for a firm to vary all of its costs. O All of these are true. Saved Question 21 (1 point) Economists consider: O explicit and implicit costs. O the opportunity costs involved with a firm's decision....
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
Question 1 Accounting profits are typically: equal to economic profits because accounting costs include all opportunity...
Question 1 Accounting profits are typically: equal to economic profits because accounting costs include all opportunity costs. O greater than economic profits because the former do not take implicit costs into account. smaller than economic profits because the former do not take implicit costs into account. O greater than economic profits because the former do not take explicit costs into account.
Classical economists believe that O A. short - run fluctuations are too infrequent and mild to...
Classical economists believe that O A. short - run fluctuations are too infrequent and mild to be of much interest OB. it takes a long time for economic variables to reach equilibrium O C. real variables like output and investment are not determined by nominal variables OD. all of the above O E none of the above
Accountants include costs as part of a firm's costs, while economists include costs. O A. explicit; explicit and implicit O B . explicit; no explicit O C. explicit and implicit; implicit OD. implicit; no implicit
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 follow is NOT an example of a statistical method economists use? O A. Most-squared error modeling OB. Instrumental variables estimation O C. Structural modeling OD. Difference-in-difference
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...
Saved Question 20 (1 point) The long run: O is longer in industries that take longer to make adjustments in input levels. ) depends on Search documents and file names for text f production being considered. O is defined as however long it takes for a firm to vary all of its costs. O All of these are true. Saved Question 21 (1 point) Economists consider: O explicit and implicit costs. O the opportunity costs involved with a firm's decision....
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
Question 1 Accounting profits are typically: equal to economic profits because accounting costs include all opportunity costs. O greater than economic profits because the former do not take implicit costs into account. smaller than economic profits because the former do not take implicit costs into account. O greater than economic profits because the former do not take explicit costs into account.
Classical economists believe that O A. short - run fluctuations are too infrequent and mild to be of much interest OB. it takes a long time for economic variables to reach equilibrium O C. real variables like output and investment are not determined by nominal variables OD. all of the above O E none of the above
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