Which of the Following Is a Renewable Resource

question 15

Multiple Choice

Which of the following is a renewable resource?

• A)coal
• B)oil
• C)wind
• D)natural gas

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Definitions:

Normal Profits

The level of profit that is necessary to cover the costs of a firm, including the opportunity costs of capital, ensuring the firm remains in business.

Implicit Cost

The opportunity cost equal to what a firm must give up in order to use resources it already owns, without paying rent or purchasing them.

Economic Profits

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

Accountants

Professionals responsible for managing and auditing financial records, ensuring accuracy and compliance with legal requirements.