Which of the Following Is an Explicit Cost

question 222

Multiple Choice

Which of the following is an explicit cost?

• A) The opportunity cost of an owner/entrepreneur's time invested in the firm.
• B) The opportunity cost of the money the business owner/entrepreneur has invested in the firm.
• C) The wages paid to workers.
• D) None of the above.

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Definitions:

Multiple Sources

Relying on or referring to various origins or points of information to ensure comprehensive understanding or analysis.

Explicit

Clearly defined or stated without any ambiguity or vagueness.

Conscientious

Displaying diligence, carefulness, and a strong sense of duty or responsibility.

Judicious

Showcasing good judgment or prudent decision-making.