Implicit Cost Refers To

question 149

Multiple Choice

Implicit cost refers to:

• A) the amount a firm receives for selling its product or service.
• B) any increase in the value of the assets owned by the firm.
• C) the opportunity cost of factors of production provided by the owners of the firm.
• D) salary paid to the factors of production.

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Definitions:

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Leaner Media

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A technology that identifies and processes human voice input to understand and execute commands or transcribe spoken words into text.