Question

Economic cost can best be defined as Multiple Choice any contractual obligation that results in a flow of money expenditures from an enterprise to resource suppliers. those payments for resources that involve an obvious cash transaction. the income the firm must provide to resource suppliers to attract resources from alternative uses. the opportunity cost of using a resource already owned by the firm.

Answer 1

Answer:

The income the firm must provide to resource suppliers to attract resources from alternative uses.

Explanation:

Economic cost refers to the cost that is attached with the goods and it is attach by one of the individual. It takes into account various factors such as time, money and other costs.

Economic cost is differ from the accounting cost because accounting cost only includes explicit costs but economic cost includes both explicit costs and implicit costs (opportunity costs).