04 Identify each of the following cash items whether it is fixed cost, variable cost, sunk cost, opportunity cost or implicit cost. (1) You spend RM 30,000 to train your staff on how to use the new software you have installed on your company's computers. (ii) Fuel for a delivery business. (ii) Fuel for a food truck business. (iv) A student spends three hours and RM 20 at the movies the night before an exam. (v) Payments that you can earn from a rented property and annual cash flow from stock sales

Survey Of Economics
10th Edition
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 8SQP
icon
Related questions
Question

answer fast

111
Identify each of the following cash items whether it is fixed cost, variable cost, sunk
cost, opportunity cost or implicit cost.
(1)
You spend RM 30,000 to train your staff on how to use the new software you
have installed on your company's computers.
Fuel for a delivery business.
Fuel for a food truck business.
(iv) A student spends three hours and RM 20 at the movies the night before an
exam.
(v) Payments that you can earn from a rented property and annual cash flow from
stock sales
Transcribed Image Text:111 Identify each of the following cash items whether it is fixed cost, variable cost, sunk cost, opportunity cost or implicit cost. (1) You spend RM 30,000 to train your staff on how to use the new software you have installed on your company's computers. Fuel for a delivery business. Fuel for a food truck business. (iv) A student spends three hours and RM 20 at the movies the night before an exam. (v) Payments that you can earn from a rented property and annual cash flow from stock sales
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Cost of Production
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Survey Of Economics
Survey Of Economics
Economics
ISBN:
9781337111522
Author:
Tucker, Irvin B.
Publisher:
Cengage,
Micro Economics For Today
Micro Economics For Today
Economics
ISBN:
9781337613064
Author:
Tucker, Irvin B.
Publisher:
Cengage,
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics: Applications, Strategies an…
Managerial Economics: Applications, Strategies an…
Economics
ISBN:
9781305506381
Author:
James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:
Cengage Learning
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
EBK HEALTH ECONOMICS AND POLICY
EBK HEALTH ECONOMICS AND POLICY
Economics
ISBN:
9781337668279
Author:
Henderson
Publisher:
YUZU