A Difference Between Explicit and Implicit Costs Is That

question 126

Multiple Choice

A difference between explicit and implicit costs is that

• A)explicit costs must be greater than implicit costs.
• B)explicit costs do not require a direct monetary outlay by the firm, whereas implicit costs do.
• C)implicit costs do not require a direct monetary outlay by the firm, whereas explicit costs do.
• D)implicit costs must be greater than explicit costs.

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Definitions:

Dilated Veins

Veins that are enlarged and often visible under the skin due to increased blood pressure or volume.

Ventricular Contraction

The process where the ventricles of the heart contract to pump blood out of the heart.

Arteries

Vessels that transport blood rich in oxygen from the heart to different areas of the body.

Constriction

The act of tightening or narrowing of a passage or opening in the body or any other structure.