Which of the following would be an example of an implicit cost?
A) (i) only
B) (ii) only
C) (ii) and (iii) only
D) (i) and (iii) only
Correct Answer:
Verified
Q27: John has decided to start his own
Q94: Explicit costs
A) require an outlay of money
Q95: Zoe sells 200 glasses of lemonade at
Q97: Kirsten sells 300 glasses of lemonade at
Q102: A certain firm manufactures and sells computer
Q104: Jane decides to open her own business
Q487: Profit is defined as total revenue
A)plus total
Q497: An example of an opportunity cost that
Q508: Implicit costs
A)do not require an outlay of
Q520: Explicit costs
A)do not require an outlay of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents