Which of the Following Is an Explicit Cost of Production

question 96

Multiple Choice

Which of the following is an explicit cost of production?

• A) wages paid to workers
• B) the electric bill
• C) purchases of raw material
• D) Only answers A and B are explicit costs because the purchases of raw material is only an opportunity cost.
• E) Answers A, B, and C are all correct.

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Definitions:

Maintenance Therapy

Ongoing treatment aimed at stabilizing a patient's condition and preventing relapse after initial successful treatment of a disease.

Tricyclic

A class of antidepressant drugs that work by inhibiting the reuptake of certain neurotransmitters, thereby increasing their levels in the brain.

MAO Inhibitor

An antidepressant drug that prevents the action of the enzyme monoamine oxidase.

Tyramine

A chemical that, if allowed to accumulate, can raise blood pressure dangerously. It is found in many common foods and is broken down by MAO.