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F. Naz
F. Naz, Chartered Accountant
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A firms costs can be divided into fixed costs and variable

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A firm’s costs can be divided into fixed costs and variable costs. Identify each of the following as either a fixed or variable cost. Then, identify that same costs as being an explicit cost or an implicit cost. Give the rationale for each of your answers.

Labor costs
Materials costs
Entrepreneur’s profit
Gasoline used in delivery trucks
Electricity costs
Submitted: 4 years ago.
Category: Homework
Expert:  F. Naz replied 4 years ago.

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