Exam (elaborations)
ECON B-251 EXAM 3 QUESTIONS WITH CORRECT ANSWERS
- Course
- Institution
The Firm's Goal CORRECT ANSWER - To maximize profit - If the firm fails to do this it is either eliminated or bought out Explicit Cost CORRECT ANSWER Costs paid directly in money Implicit Costs CORRECT ANSWER 1. Uses its own capital. •Economic depreciation is the change in the market valu...
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