Which of the Following Are Implicit Costs for a Typical

question 110

Multiple Choice

Which of the following are implicit costs for a typical firm?

• A)The cost of labour
• B)The opportunity cost of capital owned and used by the firm
• C)The cost of energy used in production
• D)A business licensing fee

---

Definitions:

Income Ratio

A financial metric used to gauge a company's profitability by comparing its income to other relevant figures, such as sales or assets.

Business Operations

The day-to-day activities involved in running a business, which include producing goods, providing services, and selling to customers.

Quality

The standard of something as measured against other similar things, or the degree of excellence of something.

Income Ratio

A financial metric measuring the efficiency or profitability of an organization, often represented as a comparison between income and some other relevant factor like sales or assets.