Which of the Following Would Be an Example of an Implicit

question 294

Multiple Choice

Which of the following would be an example of an implicit cost?

• A) (i)only
• B) (ii)only
• C) (ii)and (iii)only
• D) (i)and (iii)only

---

Definitions:

Interstate Highway

A network of controlled-access highways that form part of the National Highway System in the United States, designed for high-speed vehicular traffic.

Closing Stock Price

The closing price of a stock on a stock exchange at the end of a trading session.

Mode

The most commonly occurring value in a set of data.

Coefficient Of Variation

A standardized measure of dispersion of a probability distribution or frequency distribution, calculated as the ratio of the standard deviation to the mean.