Which of the Following Statements Is Correct

question 99

Multiple Choice

Which of the following statements is correct?

• A)Opportunity costs equal explicit minus implicit costs.
• B)Economists consider opportunity costs to be included in a firm's total revenues.
• C)Economists consider opportunity costs to be included in a firm's costs of production.
• D)All of the above are correct.

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Definitions:

Deindividuation

A psychological state where an individual loses self-awareness and personal responsibility in groups, often leading to disinhibited and impulsive behavior.

Mood Linkage

The phenomenon where individuals' emotional states become synchronized or influenced by the moods and emotions of those around them.

Prior Commitment

The psychological state or condition of being previously dedicated or bound to a particular belief, action, or course of behavior.

Group's Status

The relative standing or prestige of a group within a social or organizational context.