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Basic Question 3 of 8
An implicit cost refers to ______.
B. the opportunity cost of factors of production provided by the owners of the firm
C. explicit payments to the factors of production
A. any increase in the value of the assets owned by the firm
B. the opportunity cost of factors of production provided by the owners of the firm
C. explicit payments to the factors of production
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I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.
Andrea Schildbach
Learning Outcome Statements
determine and interpret break even and shutdown points of production, as well as how economies and diseconomies of scale affect costs under perfect and imperfect competition
CFA® 2024 Level I Curriculum, Volume 1, Module 1.