Answered: From an economist's point of view,…

From an economist's point of view, costs: Multiple Choice consist only of explicit costs. always reflect monetary outlays. never reflect monetary outlays. may or may not involve monetary outlays.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth

Section: Chapter Questions

Problem 17SQ

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Question

From an economist's point of view, costs:
Multiple Choice
consist only of explicit costs.
always reflect monetary outlays.
never reflect monetary outlays.
may or may not involve monetary outlays.

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