The Skeletons of Rays and Skates Are Made of

question 40

Multiple Choice

The skeletons of rays and skates are made of

• A) bone.
• B) cartilage.
• C) protein slime.
• D) muscle.
• E) chitin.

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Definitions:

Accounting Profit

Net income of a company is determined by deducting total expenses from total revenues, in line with established accounting norms.

Implicit Costs

The opportunity costs associated with a company's resources that are not directly paid out in cash but represent foregone alternatives.

Opportunity Costs

The cost of forgoing the next best alternative when making a decision.

Explicit Costs

Direct, out-of-pocket payments for goods or services used in the production of a product or service.