A firm pays its accountant an annual retainer of $10 000. is this an economic cost

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asked Mar 28, 2018 194k views

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FRiSi · Answer 1 · 2018-04-01T23:09:14+0000

When the firm pays an annual retainer of $10,000, it is monetary transaction. The accountant trades their time for money in return. An annual retainer is an explicit cost which is an economic cost.

A firm pays its accountant an annual retainer of $10 000. is this an economic cost

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