Implicit and Explicit Costs Are Different in That

question 21

Multiple Choice

Implicit and explicit costs are different in that:

• A)explicit costs are relevant only in the short run
• B)implicit costs are relevant only in the short run
• C)explicit costs are relevant only in the long run
• D)explicit costs refer to the nonexpenditure costs and implicit costs to out-of-pocket costs
• E)implicit costs refer to nonexpenditure costs and explicit costs to out-of-pocket costs

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Definitions:

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A psychotherapeutic treatment aiming to change patterns of thinking or behavior that are causing people's problems, thereby changing the way they feel.

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