Implicit costs are the costs:

A. Which are not incurred by the firm and may accrue to the community

B. Of resources the cost of factors owned by the firm

C. Of resources supplied by the household

D. Of government externalities

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  1. Profits of a firm will be calculated taking into account the units produced and the difference between:
  2. Along an isoquant, output remains same, and capital labor ratio:
  3. The demand of the necessities is:
  4. The cobweb model will divergent when the slope of:
  5. Under the perfect competition, the transportation cost:
  6. If the production increases under decreasing returns to scale, the cost will:
  7. The Input-Output Analysis was originated by:
  8. If cross-elasticity of one commodity for another turns out to be zero, it means they are:
  9. The largest possible loss that a firm will make in the short run is:
  10. If the commodity is inferior then Income Effect (I.E) is:
  11. The goods sold by firms under monopolistic competition are technological as well as:
  12. The reaction curve of a firm is attained by joining the:
  13. Conditions of perfect competition ensure:
  14. The equilibrium conditions, MC = MR = AR = AC, will happen:
  15. In real life, brand loyalty is a barrier to:
  16. In short-run, in monopolistic competition, a firm earns:
  17. If the commodity is normal then the Income Effect (I.E) and the Substitution Effect (S.E):
  18. Rent is a creation of value, not of wealth who made this observation?
  19. The total revenue curve for monopolist is the shape of:
  20. By reducing the prices of its products below those of its competitors, a perfectly competitive seller:
  21. Total utility and price are:
  22. According to Chamberlin, the activity of a monopolistic competitive firm:
  23. The Tit for Tat strategy means cooperation by the 2nd firm if:
  24. The model which gives us information about price and output changes in different periods is:
  25. Rotten eggs are:
  26. When income of the consumer increases then demand curve of an inferior good:
  27. Each short run average cost curve:
  28. The competitive equilibrium leads to:
  29. Average Revenue means:
  30. In 1890, Principles of Economics was written by: