he non-expenditure costs which arise when the producing firm itself owns and supplies certain factors of production are - (1) Explicit costs (2) Original costs (3) Implicit costs (4) Replacement costs

he non-expenditure costs which arise when the producing firm itself owns and supplies certain factors of production are - (1) Explicit costs (2) Original costs (3) Implicit costs (4) Replacement costs
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(3) Implicit costs Explanation: In economics, an implicit is the opportunity cost equal to what a firm must give up in order to use factors which it neither purchases nor hires. It is the opposite of an explicit cost, which is borne directly. In other words, an implicit cost is any cost that results from using an asset instead of renting, selling or lending it. These are costs a business incurs without actually spending money.
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The non-expenditure costs which arise when the producing firm itself owns and supplies certain factors of production are (1) Explicit costs (2) Original costs (3) Implicit costs (4) Replacement costs

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Description : Explain when a type conversion will undergo an implicit cast and when you must perform an explicit cast. What are the dangers associated with explicit casts?

Last Answer : Types can be implicitly converted when the conversion can always take place without any potential loss of data. When a potential loss of data is possible, an explicit cast is required. If an explicit cast is improperly performed, a loss of data precision can result, or an exception can be thrown.

Is constructor or destructor inheritance explicit or implicit? What does this mean?

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What is explicit vs. implicit conversion?

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Define what is the difference between Implicit wait and Explicit wait?

Description : Define what is the difference between Implicit wait and Explicit wait?

Last Answer : Implicit Wait: Sets a timeout for all successive Web Element searches. For the specified amount of time, it will try looking for element again and again before throwing a NoSuchElementException. It waits for elements to ... How up. Explicit Wait: It is a one-timer, used for a particular search./p>

Match the following types of variables with the corresponding programming languages: (a) Static variables (i) Local variables in Pascal (b) Stack dynamic (ii) All variables in APL (c) Explicit heap dynamic (iii) Fortran 77 (d) Implicit heap dynamic (iv) All objects in JAVA Codes: (a) (b) (c) (d) (A) (i) (iii) (iv) (ii) (B) (iv) (i) (iii) (ii) (C) (iii) (i) (iv) (ii) (D) (ii) (i) (iii) (iv)

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Last Answer : (C) (iii) (i) (iv) (ii) 

Which of the following costs is related to marginal cost? (1) Variable Cost (2) Implicit Cost (3) Prime Cost (4) Fixed Cost

Description : Which of the following costs is related to marginal cost? (1) Variable Cost (2) Implicit Cost (3) Prime Cost (4) Fixed Cost

Last Answer : (1) Variable Cost Explanation: In economics, marginal cost is the change in the total cost that arises when the quantity produced is Incremented by one unit. That is, it is the cost of producing one more ... in the short run. It is only the variable costs that vary with output in the short run.

Implicit costs are (a) equal to total fixed costs (b) comprised entirely of variable costs (c) payments for self-employed resources(d) always greater in the short run than in the long run

Description : Implicit costs are (a) equal to total fixed costs (b) comprised entirely of variable costs (c) payments for self-employed resources (d) always greater in the short run than in the long run

Last Answer : (c) payments for self-employed resources

Which of the following costs is related to marginal cost? (1) Variable Cost (2) Implicit Cost (3) Prime Cost (4) Fixed Cost

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Internal economies - (1) arise when there is expansion in an industry. (2) arise in an economy as it makes progress. (3) accrue to a firm when it expands its output. (4) arise when there is expansion in internal trade.

Description : Internal economies - (1) arise when there is expansion in an industry. (2) arise in an economy as it makes progress. (3) accrue to a firm when it expands its output. (4) arise when there is expansion in internal trade.

Last Answer : (1) arise when there is expansion in an industry. Explanation: Internal economies are those economies in production-those reductions in production costs-which accrue to the firm itself when it expands its ... of its own expansion independent of the size and expansion of the industry as a whole.

Internal economies (1) arise when there is expansion in an industry. (2) arise in an economy as it makes progress. (3) accrue to a firm when it expands its output. (4) arise when there is expansion in internal trade.

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Last Answer : arise when there is expansion in an industry.

If an industry is characterized by economies of scale then - (1) barriers to entry are not very large (2) long run unit costs of production decreases as the quantity the firm produces increases (3) capital requirement are small due to the efficiency of the large scale operation (4) the costs of entry into the market are likely to be substantial

Description : If an industry is characterized by economies of scale then - (1) barriers to entry are not very large (2) long run unit costs of production decreases as the quantity the firm produces increases (3) ... of the large scale operation (4) the costs of entry into the market are likely to be substantial

Last Answer : (2) long run unit costs of production decreases as the quantity the firm produces increases Explanation: In microeconomics, economies of scale are the cost advantages that an enterprise obtains due to expansion ... in unit cost as the size of a facility and the usage levels of other inputs increase.

Economies of a firm are : (1) An increase in its profits (2) A reduction in its selling expenses (3) Its dominance of the market (4) Saving in it's production costs

Description : Economies of a firm are : (1) An increase in its profits (2) A reduction in its selling expenses (3) Its dominance of the market (4) Saving in it's production costs

Last Answer : (4) Saving in it's production costs Explanation: Economics of a firm includes how it combines labour and capital so as to lower the average cost of output, either from increasing, decreasing, or constant returns ... of a good or a service on a larger scale, yet with (on average) less input costs.

If a firm is operating at loss in the shortperiod in perfect combination, it should : (1) decrease the production and the price. (2) increase the production and the price (3) continue to operate as long as it covers even the variable costs. (4) shut-down and leave the industry

Description : If a firm is operating at loss in the shortperiod in perfect combination, it should : (1) decrease the production and the price. (2) increase the production and the price (3) continue to operate as long as it covers even the variable costs. (4) shut-down and leave the industry

Last Answer : (3) continue to operate as long as it covers even the variable costs. Explanation: The demand for labour is "derived- from the production and demand for the product being demanded. If the demand ... price and production numbers are met. Labour is "derived" from the market demand for the product.

In short run, if a competitive firm incurs losses, it will - (1) stop production. (2) continue to produce as long as it can cover its variable costs. (3) raise price of its product. (4) go far advertising campaign.

Description : In short run, if a competitive firm incurs losses, it will - (1) stop production. (2) continue to produce as long as it can cover its variable costs. (3) raise price of its product. (4) go far advertising campaign.

Last Answer : (1) stop production. Explanation: In the short run, a firm that is operating at a loss (where the revenue is less that the total cost or the price is less than the unit cost) must ... will shutdown if the sale of the goods or services produced cannot even cover the variable costs of production.

Economies of a firm are : (1) An increase in its profits (2) A reduction in its selling expenses (3) Its dominance of the market (4) Saving in it’s production costs

Description : Economies of a firm are : (1) An increase in its profits (2) A reduction in its selling expenses (3) Its dominance of the market (4) Saving in it’s production costs 

Last Answer : Saving in it’s production costs

In short run, if a competitive firm incurs losses, it will (1) stop production. (2) continue to produce as long as it can cover its variable costs. (3) raise price of its product. (4) go far advertising campaign.

Description : In short run, if a competitive firm incurs losses, it will (1) stop production. (2) continue to produce as long as it can cover its variable costs. (3) raise price of its product. (4) go far advertising campaign.

Last Answer : stop production.

If a firm is operating at loss in the short-period in perfect combination, it should : (1) decrease the production and the price. (2) increase the production and the price (3) continue to operate as long as it covers even the variable costs. (4) shut-down and leave the industry

Description : If a firm is operating at loss in the short-period in perfect combination, it should : (1) decrease the production and the price. (2) increase the production and the price (3) continue to operate as long as it covers even the variable costs. (4) shut-down and leave the industry

Last Answer : continue to operate as long as it covers even the variable costs.

If an industry is characterised by economies of scale then (1) barriers to entry are not very large (2) long run unit costs of production decreases as the quantity the firm produces increases (3) capital requirement are small due to the efficiency of the large scale operation (4) the costs of entry into the market are likely to be substantial

Description : If an industry is characterised by economies of scale then (1) barriers to entry are not very large (2) long run unit costs of production decreases as the quantity the firm produces increases (3) ... of the large scale operation (4) the costs of entry into the market are likely to be substantial 

Last Answer : long run unit costs of production decreases as the quantity the firm produces increases

Anna Wren, sales manager for Nordic Lumber, tells the firm's inventory manager that failure to have adequate supplies of pressure -treated lumber on hand has cost the firm £175,000 in lost sales. This figure would be used as a component management figures? A)Carrying costs B)Replenishment costs C)Stockout costs D)Safety stock costs E)Reorder costs

Description : Anna Wren, sales manager for Nordic Lumber, tells the firm's inventory manager that failure to have adequate supplies of pressure -treated lumber on hand has cost the firm £175,000 in lost ... figures? A)Carrying costs B)Replenishment costs C)Stockout costs D)Safety stock costs E)Reorder costs

Last Answer : C)Stockout costs

When marginal cost is equal to marginal revenue, the firm should A)produce more to increase profits. B)produce less to decrease total costs. C)stop producing additional units to maximise profits. D)provide discounts to encourage purchases.

Description : When marginal cost is equal to marginal revenue, the firm should A)produce more to increase profits. B)produce less to decrease total costs. C)stop producing additional units to maximise profits. D)provide discounts to encourage purchases.

Last Answer : C)stop producing additional units to maximise profits.

Which of the following best defines price discrimination? a. charging different prices on the basis of race b. charging different prices for goods with different costs of production c. charging different prices based on cost-of-service differences d. selling a certain product of given quality and cost per unit at different prices to different buyers

Description : Which of the following best defines price discrimination? a. charging different prices on the basis of race b. charging different prices for goods with different costs of production c. charging ... a certain product of given quality and cost per unit at different prices to different buyers

Last Answer : d. selling a certain product of given quality and cost per unit at different prices to different buyers

The fixed cost on such factors of production which are neither hired nor bought by the firm is called - (1) social cost (2) opportunity cost (3) economic cost (4) surcharged cost

Description : The fixed cost on such factors of production which are neither hired nor bought by the firm is called - (1) social cost (2) opportunity cost (3) economic cost (4) surcharged cost

Last Answer : (1) social cost Explanation: Social cost is defined as a sum of the private cost and external costs. The social cost is generally not borne by an individual. It may be borne by entire society, city or ... seller sells any product or item to buyer. This cost is added up from the use of that product.

The fixed cost on such factors of production which are neither hired nor bought by the firm is called (1) social cost (2) opportunity cost (3) economic cost (4) surcharged cost

Description : The fixed cost on such factors of production which are neither hired nor bought by the firm is called (1) social cost (2) opportunity cost (3) economic cost (4) surcharged cost

Last Answer : social cost

.In Heckscher Ohlin theory production function differ between commodities but are same between---- (a) countries. (b) factors © costs. (d) revenues.

Description : .In Heckscher Ohlin theory production function differ between commodities but are same between---- (a) countries. (b) factors © costs. (d) revenues.

Last Answer : (a) countries.

A farmer in California owns a beautiful pear tree. He supplies the fruit to a nearby grocery store. The store owner has called the farmer to see how much fruit is available for him to purchase. The farmer knows that the main trunk has 24 branches. Each branch has exactly 12 boughs and each bough has exactly 6 twigs. Since each twig bears one piece of fruit, how many plums will the farmer be able to deliver? -Riddles

Description : A farmer in California owns a beautiful pear tree. He supplies the fruit to a nearby grocery store. The store owner has called the farmer to see how much fruit is available for him to purchase. The ... each twig bears one piece of fruit, how many plums will the farmer be able to deliver? -Riddles

Last Answer : None. A pear tree does not bear plums

A farmer in California owns a beautiful pear tree. He supplies the fruit to a nearby grocery store. The store owner has called the farmer to see how much fruit is available for him to purchase. The farmer knows that the main trunk has 24 branches. Each branch has exactly 12 boughs and each bough has exactly 6 twigs. Since each twig bears one piece of fruit, how many plums will the farmer be able to deliver? -Riddles

Description : A farmer in California owns a beautiful pear tree. He supplies the fruit to a nearby grocery store. The store owner has called the farmer to see how much fruit is available for him to purchase. The ... each twig bears one piece of fruit, how many plums will the farmer be able to deliver? -Riddles

Last Answer : None. A pear tree does not bear plums.

Implicit return type of a class constructor is: (A) not of class type itself (B) class type itself (B) a destructor of class type (D) a destructor not of class type

Description : Implicit return type of a class constructor is: (A) not of class type itself (B) class type itself (B) a destructor of class type (D) a destructor not of class type 

Last Answer : (B) class type itself

The addition to total cost by producing an additional unit of out-put by a firm is called - (1) Variable cost (2) Average cost (3) Marginal cost (4) Opportunity cost

Description : The addition to total cost by producing an additional unit of out-put by a firm is called - (1) Variable cost (2) Average cost (3) Marginal cost (4) Opportunity cost

Last Answer : (3) Marginal cost Explanation: The addition to total cost by producing an additional unit of output by a firm is called Marginal cost. Average cost is the total cost of producing a given output divided by that output.

The addition to total cost by producing an additional unit of output by a firm is called (1) Variable cost (2) Average cost (3) Marginal cost (4) Opportunity cost

Description : The addition to total cost by producing an additional unit of output by a firm is called (1) Variable cost (2) Average cost (3) Marginal cost (4) Opportunity cost

Last Answer : Marginal cost

Implicit cost refers to ……………… (a) Value of inputs owned by the firm and used in its own manufacturing process (b) Value of input or services purchased from outside and used in its own manufacturing process ; (c) Value of inputs owned by the firm and sold to others ; (d) Value of inputs or services for which no payments were made to outside

Description : Implicit cost refers to (a) Value of inputs owned by the firm and used in its own manufacturing process (b) Value of input or services purchased from outside and used in its own manufacturing ... and sold to others ; (d) Value of inputs or services for which no payments were made to outside 

Last Answer : (d) Value of inputs or services for which no payments were made to outside 

If the fixed costs of a factory producing candles is Rs 20,000, selling price is Rs 30 per dozen candles and variable cost is Rs 1.5 per candle, what is the break-even quantity? (1) 20000 (2) 10000 (3) 15000 (4) 12000

Description : If the fixed costs of a factory producing candles is Rs 20,000, selling price is Rs 30 per dozen candles and variable cost is Rs 1.5 per candle, what is the break-even quantity? (1) 20000 (2) 10000 (3) 15000 (4) 12000

Last Answer : (1) 20000 Explanation: Breakeven quantity is the number of incremental units that the firm needs to sell to cover the cost of a marketing program or other type of investment. It is given by the formula: BEQ = FC / (P-VC) Where ... per unit = 30/12 = Rs. 2.5 So 20000/ (2.5-1.5) = 20000/1= Rs. 20,000

If the fixed costs of a factory producing candles is Rs 20,000, selling price is Rs 30 per dozen candles and variable cost is Rs 1.5 per candle, what is the break-even quantity? (1) 20000 (2) 10000 (3) 15000 (4) 12000

Description : If the fixed costs of a factory producing candles is Rs 20,000, selling price is Rs 30 per dozen candles and variable cost is Rs 1.5 per candle, what is the break-even quantity? (1) 20000 (2) 10000 (3) 15000 (4) 12000

Last Answer : 20000

Explicit cost refers to (a) Actual expenses of the firm to purchase or hire input it needed (b) Actual and notional expenses of the firm to purchase or hire input it needed (c) Notional expenses of the firm to purchase or hire input it needed ; (d) All the three

Description : Explicit cost refers to (a) Actual expenses of the firm to purchase or hire input it needed (b) Actual and notional expenses of the firm to purchase or hire input it needed (c) Notional expenses of the firm to purchase or hire input it needed ; (d) All the three

Last Answer : (a) Actual expenses of the firm to purchase or hire input it needed 

)If the average total cost is Rs.54, total fixed cost is Rs.45000 and quantity produced is 2500 units, find the average variable costs (in Rs.) of the firm - (1) 24 (2) 18 (3) 36 (4) 60

Description : )If the average total cost is Rs.54, total fixed cost is Rs.45000 and quantity produced is 2500 units, find the average variable costs (in Rs.) of the firm - (1) 24 (2) 18 (3) 36 (4) 60

Last Answer : (3) 36 Explanation: The standard method of calculating average variable cost is to divide total variable cost by the quantity, illustrated by this equation : Average Variable Cost = Total Variable Cost/ Quantity of ... , Average Total Cost = 45000/2500 = 18 So Average Variable Cost = 54 - 18= 36

The internal rate of return - (1) must be less than the interest rate if the firm is to in-vest. (2) makes the present value of profits equal to the present value of costs. (3) falls as the annual yield of an investment rises. (4) is equal to the market interest rate for all the firm's in-vestment.

Description : The internal rate of return - (1) must be less than the interest rate if the firm is to in-vest. (2) makes the present value of profits equal to the present value of costs. (3) falls as the annual yield of an investment rises. (4) is equal to the market interest rate for all the firm's in-vestment.

Last Answer : (3) falls as the annual yield of an investment rises. Explanation: The internal rate of return on an investment or project is the "annualized effective compounded re-turn rate" or discount rate ... the investment equals the net present value of the benefits (positive cash flows) of the investment.

If the average total cost is Rs. 54, total fixed cost is Rs. 45000 and quantity produced is 2500 units, find the average variable costs (in Rs.) of the firm : (1) 24 (2) 18 (3) 36 (4) 60

Description : If the average total cost is Rs. 54, total fixed cost is Rs. 45000 and quantity produced is 2500 units, find the average variable costs (in Rs.) of the firm : (1) 24 (2) 18 (3) 36 (4) 60

Last Answer : 36

The internal rate of return (1) must be less than the interest rate if the firm is to invest. (2) makes the present value of profits equal to the present value of costs. (3) falls as the annual yield of an investment rises. (4) is equal to the market interest rate for all the firm’s investment.

Description : The internal rate of return (1) must be less than the interest rate if the firm is to invest. (2) makes the present value of profits equal to the present value of costs. (3) falls as the annual yield of an investment rises. (4) is equal to the market interest rate for all the firm’s investment. 

Last Answer : falls as the annual yield of an investment rises.