To the Economist,total Cost Includes

question 45

Multiple Choice

To the economist,total cost includes:

• A) explicit and implicit costs,including a normal profit.
• B) neither implicit nor explicit costs.
• C) implicit,but not explicit,costs.
• D) explicit,but not implicit,costs.

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Definitions:

Cognitive Personality Psychologists

Psychologists who study how cognitive processes, such as perception, memory, and problem-solving, contribute to individual differences in personality.

Depressed

A mental health condition characterized by persistent feelings of sadness, hopelessness, and a lack of interest or pleasure in activities.

Interpret

To explain the meaning of something or understand something in a specific way.

Biological Approach

A perspective in psychology and neuroscience that emphasizes the role of genetic, neurological, and physiological factors in behavior and mental processes.