If One Fails to Account for Implicit Costs in Decision

question 4

Multiple Choice

If one fails to account for implicit costs in decision making, then applying the cost­benefit rule will be flawed because:

• A)the benefits will be overstated.
• B)the costs will be understated.
• C)the benefits will be understated.
• D)the costs will be overstateD.The cost includes both implicit and out­of­pocket costs.

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Definitions:

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