Examlex
Which of the following is NOT a variable measure of quality?
Implicit Cost
The opportunity costs that arise from using assets, resources, or funds in specific ways rather than the next best alternative.
Capital
The total value of assets owned by an individual or firm—physical assets plus financial assets.
Opportunity Cost
The cost of the next best alternative foregone as the result of making a decision.
Depreciation
The reduction in the value of an asset over time, often due to wear and tear or obsolescence.
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