An Example of an Explicit Cost of Production Would Be

question 454

Multiple Choice

An example of an explicit cost of production would be the

• A)cost of forgone labor earnings for an entrepreneur.
• B)lost opportunity to invest in capital markets when the money is invested in one's business.
• C)lease payments for the land on which a firm's factory stands.
• D)Both a and c are correct.

---

Definitions:

Exposure

Refers to the state of being subjected to contact with something (e.g., a new environment, a language, or a type of learning material), often leading to increased familiarity or acquiring new skills.

Object of the Phobia

The specific subject or situation that triggers an irrational and excessive fear in an individual suffering from a phobia.

Shaping Procedure

A method of training by which successive approximations toward a target behavior are reinforced.

Electroconvulsive Therapy

A psychiatric treatment in which seizures are electrically induced in patients to relieve severe mental disorders.