Costs included in the economic concept of cost but

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13. Costs included in the economic concept of cost but that are not an explicit cost are: A) economic profits. B) outlay costs. C) accounting profits. D) implicit costs. 14. In economics a “marginal” value refers to: 15. The curve that shows the additional cost of each additional unit of output is called the: 16. For the Colorado beef industry to be classified as perfectly competitive, ranchers in Colorado have ______ on prices and beef is ______. 17. If a firm considering the purchase of an asset determines that the asset's NPV > 0 , ________ the asset will ________ profits. A) purchase of; decrease C) purchase of; increase B) sale of; increase D) refusing to buy; increase
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