One Difference Between Implicit Costs and Explicit Costs Is That

question 9

Multiple Choice

One difference between implicit costs and explicit costs is that

• A) implicit costs are included in accounting profits,whereas explicit costs are not.
• B) implicit costs are included in economic profits,whereas explicit costs are not.
• C) explicit costs are included in accounting profits,whereas implicit costs are not.
• D) explicit costs are included in economic profits,whereas implicit costs are not.
• E) explicit costs involve opportunity costs,whereas implicit costs involve a monetary transaction.

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Experimenter

An individual who conducts a controlled test or investigation to explore hypotheses, gather data, and gain insights into natural phenomena or psychological behaviors.

Viewer

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Letters

Letters refer to written characters that represent the sounds of a language, forming the basic building blocks of written words and text.

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A phenomenon in cognitive psychology where individuals have a better chance of recognizing a letter when it is part of a word than when it is seen in isolation.