Which of the Following Would Be an Implicit Cost for a Firm

question 426

Multiple Choice

Which of the following would be an implicit cost for a firm? The cost

• A)of worker wages and salaries for the firm.
• B)paid for leasing a building for the firm.
• C)paid for production supplies for the firm.
• D)of wages forgone by the owner of the firm.

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Definitions:

Unauthorized Checks

Checks that are issued and used without the account holder's knowledge or consent, typically an illegal activity.

Liability

The state of being legally responsible or obligated to settle a debt, fulfill a contractual duty, or compensate for harm or loss.

Authorizing

The act of giving legal or formal approval for something or someone to proceed or act in a certain way.

Enforce

To compel obedience to a law, rule, or obligation through the imposition of penalties or other legal mechanisms.