Explicit costs
Explicit costs are those that are reflected by actual cash flows and are direct payments made to others when running a business. These include payments or costs associated with wage, rent, and materials.
The short-run total cost includes both the variable and the fixed costs associated with the production.
In calculating for accounting profit, only the explicit costs are considered. However, when calculating for economic profit, the implicit costs are also included in the calculations.
The answer to this statement is true. It is because they do
not have or provide publicly financed health insurance for the unemployed for
they only offer it to those people who are usually employed as they given these
type of services to them.
Answer:
The correct options could be 2, 3 and 4.
Explanation:
When an accident happens in a production unit, usually the work is stopped to make the things up and put them back to work. If workers gets injured due to that accident, they are replaced with the new workers immediately, and to hire the workers for this job immediately may result in the hiring of less competent workers that might do the same job in more time, thus reducing the productivity and can harm the quality of the product due to less knowledge or training about the job. Secondly, when accident happens, the work is stopped up till all security checks are done. So a lot of time is wasted and when the work gets start again, the quality could slip in effort to make up for the lost time. In this way the quality of the product may be affected and the profits of the organization may get down.
Answer:
increase
Explanation:
the law is indirectly proportional