MCQOPTIONS
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MCQOPTIONS
| 1. |
Explicit cost refers to |
| A. | Actual expenses of the firm to purchase or hire input it needed |
| B. | Actual and notional expenses of the firm to purchase or hire input it needed |
| C. | Notional expenses of the firm to purchase or hire input it needed |
| D. | All the three |
| Answer» B. Actual and notional expenses of the firm to purchase or hire input it needed | |