Which of the Following Is an Example of an Explicit

question 131

Multiple Choice

Which of the following is an example of an explicit cost of production?

• A) the forgone rent that could have been earned if land owned by a firm was not used as its parking lot
• B) the cost of the flour for the baker and the forgone labour earnings for an entrepreneur
• C) the cost of forgone labour earnings for an entrepreneur
• D) the cost of flour for a baker

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