Q1. Which of the following most completely describes opportunity costs? A) Opportunity costs include implicit and explicit costs. B) Opportunity costs include only implicit costs. C) Opportunity costs include only explicit costs.
Q2. Which of the following most accurately describes economic profit? Economic profits are zero when: A) implied rental rates equal forgone interest. B) total revenue equals the sum of all opportunity costs. C) implicit costs equal explicit costs.
Q3. Assume that a firm used $60 million in labor and materials to generate $100 million in total revenues. Other costs included $200,000 in foregone interest, economic depreciation of $40,000, and normal profit of $130,000. The economic profit to this firm is closest to: A) $39,712,000. B) $40,000,000. C) $39,630,000.
Q4. Which of the following is an example of an implicit cost? A) The opportunity cost of a firm's equity capital. B) Labor salaries. C) Rent. | 
发表于 2008-12-31 10:24
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