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

User Kemal Erdogan
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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.
User FRiSi
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