Explicit Costs Are _____

question 67

Multiple Choice

Explicit costs are _____

• A)not part of opportunity costs.
• B)the only costs considered in opportunity costs.
• C)exactly the same as implicit costs.
• D)actual cash payments for resources purchased.
• E)the opportunity costs of using resources owned by the firm.

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Definitions:

Commercial Virtual Reality

Virtual reality experiences and products developed for commercial use, often in entertainment, education, and training.

Automated Vehicles

Vehicles equipped with technology that allows them to navigate and operate without human intervention.

Apple II

An early personal computer series introduced by Apple Computer in 1977 known for its significant impact on the microcomputer industry.

Personal Use

The utilization of software, hardware, or services for individual needs, as opposed to commercial or business use.