Darryl Runs a Ranch in Jackson,Wyoming

question 7

Multiple Choice

Darryl runs a ranch in Jackson,Wyoming.The interest on the debt he incurred to buy his ranch totals $3,000 per year.For Darryl,the interest is

• A) an implicit cost.
• B) an explicit cost.
• C) his normal cost.
• D) his normal profit.
• E) part of his economic profit.

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