Test Equipment for Checking the Primary Circuit Is Being Discussed

question 77

Multiple Choice

Test equipment for checking the primary circuit is being discussed. Technician A says a logic probe can be used. Technician B says a DMM can be used. Who is correct?

• A)A only
• B)B only
• C)both A and B
• D)neither A nor B

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Definitions:

Implicit Cost

The opportunity costs of using resources that a firm already owns to make its products, as opposed to renting, selling, or using them in another way.

Forgone Rent

The potential income lost by choosing to use a property or resource in a way that is not financially optimal or by not using it at all.

Economic Profits

The surplus generated from business activities after accounting for both explicit and implicit costs, including opportunity costs, representing above-normal returns.

Explicit Costs

Direct, out-of-pocket payments for costs of production, such as wages, rent, and materials, that a company incurs in conducting its business.