Question

Economic cost can best be defined as: Group of answer choices any contractual obligation to labor or material suppliers. a payment that must be made to obtain and retain the services of a resource. any contractual obligation that results in a flow of money expenditures from an enterprise to resource suppliers. all costs exclusive of payments to fixed factors of production.

Answer 1

Answer:

a payment that must be made to obtain and retain the services of a resource.

Explanation:

Economic cost means the payment that should be made for obtaining and retaining the resource service. In other terms, it is the payment that should be collected by the resource owners in order to insure the continued supply of the resources

hence, the above represent the answer

And, the same would be relevant