Which of the following is considered an implicit cost? PLEASE EXPLAIN.   A. Use of your labor services in manning your business without paying yourself B. Converting your existing warehouse to a store without charging any cost C. The assistance provided by a relative without receiving a payment D. All are examples of implicit cost E. No correct answer

Q: Which of the following costs will not change as output changes? 1. A marginal cost 2. B. total…

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Q: QUESTION 25 The Marginal Cost curve crosses the Average Total Cost curve at its maximum. True False

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A: Average total cost is the total cost per unit whereas average variable cost is the total variable…

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Q: Jim cannot work for a week due to illness. [ Select | [ Select ] explicit cost implicit cost Norman…

A: "Since you have asked multiple parts, we will answer only first three parts for you. If you have any…

Q: Why do Economies of Scale Occur? A. Large firms cover their fixed costs by producing lots of units…

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Q: Which expression is another way of saying "marginal cost"?                Scarce resources…

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Q: How are the marginal cost curve and average variable cost (AVC) curve related? Explain why the AVC…

A: Marginal cost is defined as the extra coat a firm incurs by employing an extra unit of input.

Q: Refer to Figure 1. Which of the short-run average cost curves correctly depict economies to scale?…

A: Long-run average cost The long-run average cost is tangent to the falling portion of the short-run…

Q: Which of the following is an example of a Variable Cost? A. an employee who makes $40,000 a year B.…

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Q: A graph represented by a straight line parallel to the output of the X-AXIS is an image of which…

A: The total cost is the sum of total fixed cost and total variable cost of production. The total fixed…

Q: Solve the attahment.

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A: Marginal Cost:Marginal cost refers to the additional cost of producing the additional unit of…

Q: the following table to answer the next question.   Output           Total Cost      0…

A: Total cost is the sum of fixed cost and variable cost.

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A: Cost is the expenditure incurred by firms on the production of goods and services.

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Q: find 5 problems related to variable cost, total cost, and marginal cost  and Solve problems.

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Q: find 10 problems related to variable cost, total cost, and marginal cost  and Solve problems

A: In this question a hypothesis numerical questions is needed to solve which contains MC , VC TV etc .

Q: “Sunk cost is a fixed cost, but not in the long term.” Is this statement true or false? Explain!

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A: Marginal cost is the cost of hiring the additional worker per week.

Q: Which of the following is an example of an implicit cost? A) the cost of fuel and materials. B) the…

A: Implicit cost is also called opportunity cost. It is the cost that is incurred but not reported…

Q: explicit or implicit cost

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Q: Which of the following statements regarding marginal analysis is​ true?     A. If total cost…

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Q: you calculate the marginal cost per dozen pizzas using the information on total cost. Also,…

A: The below formula can be used to find the marginal cost. Marginal Cost = Change in total costChange…

Q: Which of the following statement is correct? a. Marginal cost will equal average total cost when…

A: Let's first understand what's the meaning of marginal cost. The cost which is incurred on the…

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A: If marginal cost is higher than average cost it means the slope of average cost will be higher than…

Q: Explain the relationship between total, marginal and average cost

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Q: Show the relationship between short-run marginal and average cost curves, and long-run marginal and…

A: In the short run there are two types of costs:- fixed costs and variable costs. In the short run…

Q: How do we calculate each of the following: marginal cost, average total cost, and average variable…

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Q: Opportunity cost refers to  A) explicit costs+ implicit costs

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Q: How would each of the following affect average total cost, average variable cost, and marginal cost?…

A: GIVEN  How would each of the following affect average total cost, average variable cost, and…

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