Question

Question No. 8
Which of the following is not an
economic cost?
Answer
Wages.
Economic profits.
D. • Payments made to the entrepreneur
for organizing production
A
Rents.
B.
C.
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Answer 1

Explanation:

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Answer 2

Economic profits

Economic profit refers to the distinction between absolute incomes, fewer expenses, and the open door cost related to the income created. Opportunity cost is the expense of an open door inescapable, i.e., provided up to seek after another. The formula of economic profit can be determined by deducting the express expenses (relating to the costs of doing business) and the understood expenses (opportunity cost) from the absolute income acquired by the business.