Which of the Following Statements Is True

question 72

Multiple Choice

Which of the following statements is true?

• A)Costs are always explicit, never implicit.
• B)Costs are always implicit, never explicit.
• C)George runs a stationery shop; he paid Frank $5,000 for the carpet he installed in the shop.The $5,000 for carpet is an implicit cost.
• D)An implicit cost is a cost that represents the value of resources used in production for which no actual monetary payment is made.
• E)none of the above

---

Definitions:

Parenchyma

Fundamental tissue in plants responsible for photosynthesis, storage, and tissue repair, consisting of living cells with diverse functions.

Monocot

A group of flowering plants whose seeds typically contain only one embryonic leaf, or cotyledon.

Vessel Element

Cell that joins with others to form a major conducting tube found in xylem.

Guard Cells

Specialized cell pairs in plant leaves that control the opening and closing of stomata to regulate gas exchange and water loss.