Which of the Following Statements Is True

question 72

Multiple Choice

Which of the following statements is true?

• A)Costs are always explicit, never implicit.
• B)Costs are always implicit, never explicit.
• C)George runs a stationery shop; he paid Frank $5,000 for the carpet he installed in the shop.The $5,000 for carpet is an implicit cost.
• D)An implicit cost is a cost that represents the value of resources used in production for which no actual monetary payment is made.
• E)none of the above

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Definitions:

Brushes His Teeth

The act of using a brush to clean the teeth, typically done for dental hygiene and health.

Strokes

A medical condition where poor blood flow to the brain results in cell death, leading to various degrees of impairment or disability.

Psychoanalytic Perspective

A theory developed by Freud emphasizing unconscious processes and conflicts as the primary drivers of human behavior and psychological disorders.

Irrational Fear

An exaggerated or unfounded fear towards objects, activities, or situations that poses little to no actual danger.