_____ View Is Similar to Slide Show View

question 110

Multiple Choice

_____ view is similar to Slide Show view.

• A)Normal
• B)Slide Sorter
• C)Reading
• D)Notes Page

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Definitions:

Implicit Costs

The opportunity costs that arise from using resources that a business already owns rather than earning revenue from those resources elsewhere.

Explicit Costs

Direct, out-of-pocket expenses incurred in conducting a business activity, such as wages, rent, and materials.

Economic Profits

Profits earned by a company after accounting for both explicit (direct) and implicit (opportunity) costs.

Marginal-Cost Curve

A graph that shows the relationship between the marginal cost of producing an additional unit and the total quantity of the product produced.