Explicit Costs Are

question 122

Multiple Choice

Explicit costs are

• A)not part of opportunity cost
• B)the only cost considered in opportunity cost
• C)exactly the same as implicit costs
• D)actual monetary payments for resources purchased
• E)the opportunity costs of using resources owned by the firm

---

Definitions:

Sentence

A set of words that is complete in itself, conveying a statement, question, exclamation, or command.

Central Route

A term from the Elaboration Likelihood Model referring to the path of persuasion that involves careful and thoughtful consideration of the arguments presented in a message.

Persuasion

The process of motivating someone to do or believe something through reasoning or argumentation.

Importance

The quality or state of being of great significance or value; often determined by its impact or influence on events or decisions.