Economic Costs

question 190

Multiple Choice

Economic costs

• A) include both a normal rate of return on investment and the opportunity cost of each factor of production.
• B) are equal to the direct costs of hiring all factors of production.
• C) are the opportunity cost of each factor of production minus any interest charges paid on borrowed funds.
• D) are equal to total revenue minus accounting profit.

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Definitions:

2-Methylheptane

An isomer of octane, a hydrocarbon molecule with a seven-carbon chain and a methyl group attached to the second carbon.

2-Methylhept-1-ene

An organic compound belonging to the class of alkenes, specifically an eight-carbon chain with a double bond at the first position and a methyl group at the second carbon.

Sodium Methoxide

A strong base and nucleophile used in the production of biodiesel, represented chemically as CH3ONa.

Major Alkene Product

The primary alkene formed in the highest quantity during an elimination reaction in organic chemistry.