If any entrepreneur runs a business and takes out 100,000 naira per year as "salary" from the total receipts of the firm, what is the implicit cost of the firm?
If any entrepreneur runs a business and takes out 100,000 naira per year as "salary" from the total receipts of the firm, what is the implicit cost of the firm?
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter7: Production Economics
Section: Chapter Questions
Problem 1.5CE
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If any entrepreneur runs a business and takes out 100,000 naira per year as "salary" from the total receipts of the firm, what is the implicit cost of the firm?
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