An Example of an Opportunity Cost That Is Also an Implicit

question 11

Multiple Choice

An example of an opportunity cost that is also an implicit cost is

• A)a lease payment.
• B)the cost of raw materials.
• C)the value of the business owner's time.
• D)All of the above are correct.

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Definitions:

Raw Materials

Basic materials and substances used in the initial stages of production and manufacturing processes.

Multinational Corporation

A corporate organization that owns or controls production of goods or services in one or more countries other than its home country.

Foreign Exchange

The trading of currencies from different countries against each other.