The Following Sentences Form a Paragraph

question 16

Multiple Choice

The following sentences form a paragraph. Select the correct words and punctuation for each blank. ____ Congress restocked the library's shelves with Thomas Jefferson's enormous personal collection of books.

• A) After the war
• B) After the war,

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Definitions:

Implicit Cost

The opportunity cost equal to what a firm must give up in order to use resources it already owns for production, without direct payment.

Opportunity Cost

The loss of potential gain from other alternatives when one alternative is chosen.

Economic Profit

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs.

Economic Profit

The difference between total revenue and total cost, including both explicit and implicit costs.