Which of the Following Is an Example of an Implicit

question 333

Multiple Choice

Which of the following is an example of an implicit cost? (i)
The owner of a firm forgoing an opportunity to earn a large salary working for a Wall Street brokerage firm
(ii)
Interest paid on the firm's debt
(iii)
Rent paid by the firm to lease office space

• A)(ii) and (iii) only
• B)(i) and (iii) only
• C)(i) only
• D)(iii) only

---

Definitions:

Social Concern

The attention or care directed towards societal issues and the wellbeing of the community at large.

Marketing Program

A comprehensive plan that outlines strategies, tactics, and activities for effectively promoting and selling products or services.

Title VII

A section of the Civil Rights Act of 1964 prohibiting employment discrimination based on race, color, religion, sex, or national origin.

Civil Rights Act

A landmark piece of legislation in the United States, enacted in 1964, that outlawed discrimination based on race, color, religion, sex, or national origin.