Which of the Following Is an Implicit Cost? (I) the Owner

question 191

Multiple Choice

Which of the following is an implicit cost? (i) the owner of a firm forgoing an opportunity to earn a large salary working for a Wall Street brokerage firm
(ii) interest paid on the firm's debt
(iii) rent paid by the firm to lease office space

• A)(ii) and (iii)
• B)(i) and (iii)
• C)(i) only
• D)(iii) only

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Definitions:

Charlotte Perkins Gilman

An influential American writer and social reformer of the early 20th century, known for her work on women's rights and her critique of the social and economic consequences of gender inequality.

Gender Inequality

The disparity in opportunity, status, and access to resources between people of different genders, often resulting in social and economic disadvantages.

Herbert Spencer

A 19th-century English philosopher and sociologist who contributed to a range of disciplines and famously applied the theory of natural selection to society.

C. Wright Mills

An American sociologist who is best known for his work on the power elite and the sociological imagination, concepts that examine how societal structures impact individual agency.