Implicit Costs Are Opportunity Costs

question 23

True/False

Implicit costs are opportunity costs.

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Definitions:

Parathyroid Gland

Small glands located behind the thyroid gland that play a critical role in regulating the body's calcium levels.

Luteinizing Hormone

A hormone produced by the anterior pituitary gland that plays a crucial role in regulating the menstrual cycle and ovulation in females and testosterone production in males.

Anterior Pituitary

A front part of the pituitary gland that produces and releases hormones which regulate various bodily functions.

Gonads

The reproductive organs: namely, in women the ovaries, and in men the testes.