Which of the Following Is an Implicit Cost of Production

question 267

Multiple Choice

Which of the following is an implicit cost of production?

• A)interest paid on a loan to a bank
• B)wages paid to labor plus the cost of carrying benefits for workers
• C)the utility bill paid to water, electricity, and natural gas companies
• D)rent that could have been earned on a building owned and used by the firm

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Definitions:

Naming Speed

The ability to quickly recall and articulate the names of objects, symbols, or colors.

Number of Food Commercials

The quantity of television or online advertisements specifically promoting food products or brands.

Growth Advances

Growth advances refer to periods during which children experience faster than usual rates of physical growth or development.

Adolescent Growth Spurt

A rapid increase in height and weight that occurs during puberty due to hormonal changes.