Implicit and Explicit Costs Are Different in That

question 203

Multiple Choice

Implicit and explicit costs are different in that

• A)explicit costs are opportunity costs; implicit costs are not.
• B)implicit costs are opportunity costs; explicit costs are not.
• C)the latter refer to nonexpenditure costs and the former to monetary payments.
• D)the former refer to nonexpenditure costs and the latter to monetary payments.

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Definitions:

Aromatic

Refers to organic compounds containing one or more benzene rings or similar ring structures, characterized by their stability and unique chemical properties.

Antiaromatic

Compounds that have conjugated pi systems but do not obey Huckel's rule, leading to instability.

Nonaromatic

A term describing organic compounds that do not contain a conjugated system of pi electrons in a ring, thus not meeting the criteria for aromaticity.

Aromatic

Refers to compounds that contain a ring of continuously overlapping p-orbitals, displaying enhanced stability as seen in benzene.