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:

Silica Tetrahedron

A structural unit of silicon ion surrounded by four oxygen ions, forming the basic building block of silicate minerals.

Silicon

The fourteenth element in the Periodic Table, having the atomic symbol Si.

Silica Tetrahedra

The basic structural unit of silicate minerals, consisting of four oxygen atoms surrounding a single silicon atom.

Silicate Minerals

A group of minerals that contain silicon and oxygen, usually with other metals, forming the largest and most important class of minerals on Earth.