Select the Correct Answer: for Each Question

question 14

Multiple Choice

Select the correct Answer: for each question.
-Find the work done by a force that moves an object from the point to the point along a straight line.The distance is measured in meters and the force in newtons.

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Definitions:

Implicit Costs

The opportunity costs that arise from using resources owned by the firm for its own production instead of earning revenue from these resources elsewhere.

Normal Profit

The lowest amount of profit a company must earn to stay competitive and cover its opportunity costs.

Implicit Costs

Implicit costs, also known as imputed or opportunity costs, are the costs of resources owned by the firm that are used in its own production process.

Explicit Costs

Direct, out-of-pocket payments for wages, rent, materials, and other inputs in the production process.