Optimism Predicts Good Health When Measured by

question 11

Multiple Choice

Optimism predicts good health when measured by

• A)self-report.
• B)physician report.
• C)number of visits to a doctor.
• D)All of these.

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Definitions:

Implicit Costs

They represent the opportunity costs of using resources that a company already owns, rather than the out-of-pocket expenses.

Economic Costs

The total cost of production, including both explicit costs like wages and materials and implicit costs such as opportunity costs.

Accounting Profit

The total revenue of a business minus the explicit costs associated with that revenue, calculated using generally accepted accounting principles (GAAP).

Long Run

A period of time in economics during which all factors of production and costs are variable, allowing for full adjustment to changes.