Which of the Following Is an Implicit Cost of Production

question 56

Multiple Choice

Which of the following is an implicit cost of production?

• A)the loss in the value of capital equipment due to wear and tear
• B)the salary you pay yourself for running your business
• C)the utility bill paid to water, electricity, and natural gas companies
• D)the interest you pay your mother for the money she loaned you to start your business

---

Definitions:

Linear Equation

A mathematical equation consisting of terms that are either constants or products of a constant multiplied by a single variable.

Linear Equations

Mathematical statements that show the relationship between two variables using a straight line when plotted on a graph.

Linear Equation

An algebraic equation in which each term is either a constant or the product of a constant and a single variable.

Linear Graphing

A method of representing data or mathematical functions where relationships are shown as straight lines on a graph.