If an input is owned and used by a firm, then its:

CA Foundation · Business Economics · MTP · January 2025
If an input is owned and used by a firm, then its:
(A) A. explicit cost is zero.
(B) B. implicit cost is zero.
(C) C. opportunity cost is zero
(D) D. economic cost is zero.

Suggested Answer and Working Notes:

Correct Answer: Option (A)

A. explicit cost is zero.

Topics: Theory of Production and Cost

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic