A(n)____ Is a Named Memory Location Whose Value Can Vary

question 39

Multiple Choice

A(n) ____ is a named memory location whose value can vary.

• A) input
• B) variable
• C) output
• D) logic

---

Definitions:

Opportunity Cost

Represents the benefits that are missed or foregone when choosing one option over another.

Implicit Costs

Costs that represent the opportunity costs of using resources that the firm already owns, not involving direct monetary payment.

Explicit Costs

Direct, out-of-pocket expenses incurred in conducting an activity or business operation.

Economic Profit

The difference between total revenues and total costs, including both explicit and implicit costs, indicating the financial gain in an economic activity.