The Forgone Income That the Owner of a Business Could

question 46

Multiple Choice

The forgone income that the owner of a business could have made by spending time working in another job is called:

• A) explicit cost.
• B) marginal cost.
• C) total cost.
• D) opportunity cost.

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Definitions:

Browsers

Software applications used to access and navigate the internet.

Programming Language

A formal language comprising a set of instructions that produce various kinds of output and are used in computing to implement algorithms.

Compile-time Errors

Errors in a program's code detected by the compiler before the program is run.

Runtime Errors

Errors that occur during the execution of a program, which can cause the program to stop unexpectedly.