regarded as costs by accountants but not by economists. B. payments that a firm makes to other firms or individuals who supply resources to it. C. non-expenditure costs. D. costs that vary proportionately with output

regarded as costs by accountants but not by economists. B. payments that a firm makes to other firms or individuals who supply resources to it. C. non-expenditure costs. D. costs that vary proportionately with output

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter7: Economies Of Scale And Scope

Section: Chapter Questions

Problem 11MC

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Question

Implicit costs are:
regarded as costs by accountants but not by economists.
B. payments that a firm makes to other firms or individuals who supply resources to it.
C. non-expenditure costs.
D. costs that vary proportionately with output.

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