Which of the Following Are Implicit Costs for a Typical

question 42

Multiple Choice

Which of the following are implicit costs for a typical firm?

• A)insurance costs
• B)electricity costs
• C)the opportunity costs of the capital owned and used by the firm
• D)the cost of the labor hired by the firm
• E)the cost of raw materials

---

Definitions:

Credibility

The quality of being trusted and believed in, often based on a track record of accuracy or reliability.

Business Report

A formal document that presents information and analysis to assist in decision-making, often including recommendations.

Writing

The act or process of composing text for various purposes, such as communication, expression, or documentation.

Descriptive Headings

Titles that plainly denote the subject matter.