Which of the Following Is an Example of an Implicit

question 239

Multiple Choice

Which of the following is an example of an implicit cost?

• A) rent on a building
• B) the cost of fertilizer for a farmer
• C) the economic depreciation of capital equipment the business owns
• D) the cost of fuel and materials.
• E) wages paid to workers

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Definitions:

Freelance Service Person

An individual who offers their professional services on a contract or project basis, not tied to any single employer.

Making a Complaint

The act of expressing dissatisfaction or reporting a problem regarding a service, product, or experience, usually to seek resolution.

Greater Discount

A larger reduction in price offered on goods or services, typically used as a sales promotion strategy to encourage purchasing.