The Costs of Inputs Supplied to the Firm by the Owners

question 95

Multiple Choice

The costs of inputs supplied to the firm by the owners of the firm are

• A) fixed costs.
• B) explicit costs.
• C) variable costs.
• D) implicit costs.
• E) economic costs.

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Definitions:

Hourly Rate

A set amount that an employee is paid for each hour of work.

Estimate

A rough calculation or educated guess of a figure based on available information.

Amortization Table

A listing of the unpaid principal, the monthly payment, the amount allocated to paying down the principal, and the amount allocated to interest.

Spreadsheet

A digital document composed of rows and columns that helps in organizing, analyzing, and storing data, often used for financial calculations.