Implicit Costs

question 8

Multiple Choice

Implicit costs

• A)Include only payments to workers and lenders.
• B)Represent actual monetary payments made for resources used to produce a good such as oil.
• C)Are the value of resources used for which no direct payment is made.
• D)Are the total opportunity costs of resources and inputs used to produce a good.

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Definitions:

Sasha's

This could refer to a specific place, business, or pet named Sasha but lacks context for a definitive definition.

Dinner

The main meal of the day, often eaten in the evening.

Everyone's

Pertaining to or belonging to all people or to each person in a group or category.

Summer

The warmest season of the year, occurring between spring and autumn, characterized by longer daylight hours and increased temperatures.