Which of the Following Are Implicit Costs for a Typical

question 102

Multiple Choice

Which of the following are implicit costs for a typical firm?

• A)Insurance costs.
• B)Electricity costs.
• C)Opportunity costs of capital owned and used by the firm.
• D)Cost of labour hired by the firm.
• E)The cost of raw materials.

---

Definitions:

Disproportionately

To an extent that is too large or too small in comparison with something else.

Racial

Relating to the categorization of people based on physical and genetic characteristics such as skin color and facial features.

Ethnic Groups

Categories of people who identify with each other based on common ancestral, social, cultural, or national experiences.

Transferred

Moved from one place, person, or thing to another.