Which of the Following Can Be Classified as an Implicit

question 73

Multiple Choice

Which of the following can be classified as an implicit cost of production?

• A)The cost of raw materials
• B)Rent forgone on the office building
• C)Interest paid on debt
• D)Salary paid to workers

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Definitions:

Proactive Interference

A phenomenon where old memories inhibit the capacity to remember new information.

Serial Position Effect

A psychological phenomenon where an individual is more likely to remember the first and last items in a series.

Episodic Memory

A category of long-term memory that involves the recollection of specific events, situations, and experiences.

Semantic Memory

A category of persistent memory that involves the ability to memorize words, ideas, or numbers, indispensable for the mastery and implementation of language.