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ECONOMICS 3302 (Chapter 1-6)

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1. The financial hypothesis of business conduct expect that the objective of a firm is to A. earn a bookkeeping benefit. B. earn a financial benefit. C. earn most extreme income. D. maximi... ze its benefit. Express expenses A. measure the open door expenses of the entrepreneurs. B. are consistently fixed in the short run. C. measure the installments made to the company's elements of creation. are consistently factor in the short run. 2. Which of coming up next isn't a case of unequivocal expenses? A. Wages paid to laborers B. Personal reserve funds of the proprietor put resources into the firm C. Salaries paid to the board Office space lease Unequivocal expenses A. are the main costs that issue to entrepreneurs.usually exceed implicit costs. A. are difficult to measure. appear on the firm's balance sheet. Implicit costs A. equal to total revenues minus implicit costs. B. the difference between total revenues and explicit costs. C. equal to total revenues minus explicit and implicit costs. less than economic profits. An example of an implicit cost is D. 3. A. interest paid on a bank loan. B. wages paid to a family member. C. the value of a spare bedroom turned into a home office. operating costs of a company-owned car. If you were to start your own business, your implicit costs would include A. rent that you have paid in advance for use of a building. B. the opportunity cost of your time. C. profit over and above normal profit. interest that you pay on your business loans. [Show More]

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