The ________ Is Most Likely an Example of Public Ownership

question 69

Multiple Choice

The ________ is most likely an example of public ownership.

• A)movie theater
• B)city sewer system
• C)trucking company
• D)television company

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Definitions:

Implicit Costs

The opportunity costs of using resources owned by the firm for its own use, without any direct payment made.

Opportunity Cost

The worth of the best alternative given up to make a choice.

Accounting Profit

The financial gain calculated by subtracting total expenses from total revenues, according to standard accounting principles.

Economic Profit

The profit from undertaking an activity after subtracting both the explicit and implicit costs associated with that activity.