Which of the Following Is an Explicit Cost in Jim's

question 224

Multiple Choice

Which of the following is an explicit cost in Jim's business venture?

• A) the salary Jim could have earned at another job
• B) the interest Jim does not earn because he invested his savings in his business
• C) the wages Jim pays his workers
• D) Jim's normal profit
• E) Answers A, B, and D are correct.

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