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Question
An explicit cost for a business that manufactures bicycles would be the
a. value of the products that the firms employees could produce at another company.
b. salary that the owner of the business could earn elsewhere.
c. goods and services provided by the government with the taxes the firm pays.
d. wages paid to employees.
e. various products that could be made with the steel used to make bicycles.
Answer
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Related questions
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What is the long-run consequence of a price ceiling law?
a. A surplus will continue to exist and will grow larger over time.
b. A surplus will continue to exist and will grow smaller over time.
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Q:
Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
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Q:
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Q:
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