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You Own a Small Deli That Sells Sandwiches, Salads, and Soup

question 153

Essay

You own a small deli that sells sandwiches, salads, and soup to the community.Which of the following is an implicit cost of the business?
A.wages paid to part-time employees
B.the job offer you did not accept at a local catering service
C.bread, meat, and vegetables used to produce the items on your
menu
D.your monthly utility bill


Definitions:

Disaffirm

The legal act of renouncing or rejecting a contract or agreement, particularly one entered into by a minor.

Tort Theory

A framework within civil law that addresses and provides remedies for civil wrongs not arising from contractual obligations, where one party's negligence or intentional act causes harm to another.

Disaffirmance

The legal act of renouncing or voiding a contract or agreement, particularly used in cases where one party is a minor or where there has been fraud or mistake.

Cognitive Ability Test

A psychological test designed to measure a person's ability to think, reason, and solve problems.

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