The Choices Listed Below Involve Costs to the Firm

question 47

Multiple Choice

The choices listed below involve costs to the firm.For which is the implicit cost potentially different than its explicit cost?

• A)The use of firm-owned assets.
• B)The services of hired workers.
• C)The use of rented land.
• D)The interest paid on borrowed money.
• E)The purchase of raw materials used in production.

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Definitions:

Conditioning

A process of behavioral modification by which a subject comes to associate a desired behavior with a previously unrelated stimulus.

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A workplace that includes a wide range of differences among its employees, including race, gender, ethnicity, sexual orientation, age, and abilities.

Effective Diversity Practices

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An individual who achieves desired results or goals through inspiring, motivating, and guiding others in a positive and strategic manner.