An Example of an Explicit Cost of Production Is

question 42

Multiple Choice

An example of an explicit cost of production is:

• A) the cost of foregone labor earnings for an entrepreneur.
• B) the cost of flour for a baker.
• C) the foregone rent that could have been earned if land owned by a firm was not used as its parking lot.
• D) provided by none of the above.

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Definitions:

Ethical Customer Service

A business practice that involves providing services to customers in a manner that is fair, transparent, and respectful to both consumer rights and wellbeing.

Non-Controversial

Pertaining to topics, subjects, or issues that generally do not provoke disagreement, debate, or opposition.

Self-Esteem Trap

A situation in which one's sense of self-worth is caught in a pattern of unrealistic or negative self-assessment.

Self-Image

The way you honestly see yourself.