If An Owner Of Firm Supplies His Her Own Labor And Does Not Take A Salary Then The Cost Of This Labor Is O A Included 1 (20.54 KiB) Viewed 10 times
If An Owner Of Firm Supplies His Her Own Labor And Does Not Take A Salary Then The Cost Of This Labor Is O A Included 2 (29.76 KiB) Viewed 10 times
If an owner of firm supplies his/her own labor and does not take a salary, then the cost of this labor is: O a. Included in the determination of both accounting and economic profit b. Only included in the determination of accounting profit O c. Only included in the determination of economic profit O d. Not included in the determination of accounting nor economic profit
With regard to a firm's short run cost, which of the following is true? O a. Total cost is always decreasing as output increases Ob. marginal cost will eventually be increasing because of diminishing marginal product of labor O c. a firm's average fixed cost increases as output increases Od. all of the above e. none of the above
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