Implicit and Explicit Costs Are Different in That

question 203

Multiple Choice

Implicit and explicit costs are different in that

• A)explicit costs are opportunity costs; implicit costs are not.
• B)implicit costs are opportunity costs; explicit costs are not.
• C)the latter refer to nonexpenditure costs and the former to monetary payments.
• D)the former refer to nonexpenditure costs and the latter to monetary payments.

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Definitions:

Public Defender

An attorney appointed by the court to represent defendants who cannot afford to hire private counsel, typically in criminal cases.

Right To Counsel

The guaranteed legal right of a defendant in criminal proceedings to have the assistance of a lawyer, and if they cannot afford one, to have one provided at public expense.

Court Appoints

Refers to the action when a court designates an individual, such as a guardian, attorney, or public official, to perform a specific role within a legal process.

Court-appointed

Refers to individuals or entities, such as attorneys or guardians, designated by a judge or court to perform a certain role or represent someone in a legal matter.