XBRL

question 32

Multiple Choice

XBRL

• A) is the basic protocol that permits communication between Internet sites.
• B) controls Web browsers that access the Web.
• C) is the document format used to produce Web pages.
• D) was designed to provide the financial community with a standardized method for preparing
• E) is a low-level encryption scheme used to secure transmissions in higher-level (HTTP) format.

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Definitions:

Imperfect Competition

A market structure characterized by the presence of several competing firms but which lack the conditions of perfect competition, often leading to market power.

Implicit Cost

The monetary income a firm sacrifices when it uses a resource it owns rather than supplying the resource in the market; equal to what the resource could have earned in the best-paying alternative employment; includes a normal profit.

Forgone Rent

The potential income lost by choosing to use a property or resource in a way that is not financially optimal, such as using land for personal use instead of renting it out.

Rental Payments

Regular payments made by a tenant to an owner for the use of the owner's property or land.