Which of the Following Are Implicit Costs for a Typical

question 7

Multiple Choice

Which of the following are implicit costs for a typical firm?

• A)opportunity costs of capital owned and used by the firm
• B)the cost of labor hired by the firm
• C)utilities cost
• D)a business licensing fee

---

Definitions:

Chloroplast

An organelle found in plant and algal cells that conducts photosynthesis, converting light energy into chemical energy stored in glucose.

Photosynthesis

The process by which green plants and some other organisms use sunlight to synthesize foods from carbon dioxide and water.

Chloroplasts

Organelles found in plant cells and eukaryotic algae that conduct photosynthesis, converting light energy into chemical energy.

Thylakoids

Membrane-bound compartments inside chloroplasts and cyanobacteria, where the light-dependent reactions of photosynthesis occur.