Introduction to Economics 1 Deneme Sınavı Sorusu #1144360

What is economic cost formula?

Economic Costs = Wage (w) x Labor (L) + Interest (r) x Capital (K).

Economic Costs = Explicit Costs + Implicit Costs as monetary value of time, effort and other resources .

Economic Costs = Interest (r) x Capital (K) x Quantity (Q).

Economic Costs= Price (P) x Quantity (Q).

Economic Costs= Total Revenue (TR) – Total Cost (TC).

Yanıt Açıklaması:

From an economist’s point of view, the cost includes not only the explicit expenses you must pay, but also as implicit costs the monetary value of time, effort and other resources you have to give up. The sum of all these costs is called the economic cost.

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SORUNUN CEVABI: B

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