Economic cost can best be defined as: Select one: a) All costs excluding labour costs b) Any obligation to labour or material suppliers c) All costs exclusive of payments to fixed factors of production d) Compensations which must be recieved by factor of production owners to insure their continued supply e) Any contractual obligations which results in a flow of money expenditures from an enterprise to factor of production suppliers
Economic cost can best be defined as: Select one: a) All costs excluding labour costs b) Any obligation to labour or material suppliers c) All costs exclusive of payments to fixed factors of production d) Compensations which must be recieved by factor of production owners to insure their continued supply e) Any contractual obligations which results in a flow of money expenditures from an enterprise to factor of production suppliers
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 8SQ
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Economic cost can best be defined as:
Select one:
a) All costs excluding labour costs
b) Any obligation to labour or material suppliers
c) All costs exclusive of payments to fixed factors of production
d) Compensations which must be recieved by factor of production owners to insure their continued supply
e) Any contractual obligations which results in a flow of money expenditures from an enterprise to factor of production suppliers
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