What Would Be an Example of an Explicit Cost of Production

question 102

Multiple Choice

What would be an example of an explicit cost of production

• A)the cost of forgone labour earnings for an entrepreneur
• B)the cost of the lost opportunity to invest in other capital markets when the money is invested in one's business
• C)the cost of gas for a long haul truck driver
• D)the cost of training programs postponed indefinitely

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Definitions:

Quarried Mountain

Mountains or portions thereof that have been excavated for the purpose of extracting rock, minerals, or other resources.

Mickey Mouse Watch

A wristwatch featuring Mickey Mouse, often characterized by the iconic Disney character's arms serving as the timepiece's hands.

Pearl Necklace

A piece of jewelry consisting of pearls strung together.

Floor-Length Gown

A long dress that reaches the floor, often worn on formal occasions such as weddings or galas.