Yes this true and I know because my cousin owns a business.
Answer:
Explicit, explicit and implicit
Explanation:
The accounting cost is the cost that generally includes the payment related to the wages, rent, price of the products etc
While on the other hand, the economic cost is the cost that involves both type of cost i.e. explicit and implicit. The implicit cost is generally the opportunity cost
This is the answer but the same is not provided in the given options
Production possibilities curve between the two goods will be a straight, downward-sloping line if the opportunity cost rise.
<h3>What is production possibilities curve?</h3>
The production possibilities curve serves as graph that display the relationship between the resources and the output that can be produced.
Therefore, when the opportunity cost that exists between two goods, there will be. downward slope as regards the production possibilities curve.
Learn more about production possibilities curve at;
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Answer:
E) A and C are correct.
Explanation: A and C are correct because:
1. A price taking firm is a perfectly competitive firm; a firm that cannot influence the market price. It does not set the market price and is only in business to sell at the prevailing market price, or lower its prices to attract customers.
Therefore, Alcoa has violated this assumption because it is the sole seller of aluminum and is not a price taker but rather a Price Maker. Alcoa can set the price of aluminum to any level it likes at it enjoys pricing power.
2. Free entry assumption: free entry is one of the qualities of a perfectly competitive market, because firms can easily come into the business with little or no hindrance.
Alcoa has however violated this assumption because it owns nearly all the aluminum ore reserves in the world. It would therefore be very difficult or impossible for another firm to gain free entry into the aluminum business.
Answer:
Broker A is responsible for safekeeping previous records up to 4 years in the past.
Explanation:
Even if broker A decided that it was best for him to start working for broker B, he/she is still responsible for safekeeping all the previous records (up to 4 years) when he worked by himself/herself. The same applies if broker B had acquired broker A's business (a sole proprietorship is a type of business).