Which of the Following Is an Implicit Cost of Production

question 166

Multiple Choice

Which of the following is an implicit cost of production?

• A) interest paid on a loan to a bank
• B) wages paid to labour plus the cost of carrying benefits for workers
• C) the utility bill paid to water, electricity, and natural gas companies
• D) rent that could have been earned on a building owned and used by the firm

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Definitions:

Antagonistic Drugs

Substances that block or reduce the effect of a neurotransmitter or other chemical in the brain, often used in the treatment of various medical conditions.

Agonist

A substance that activates receptors in the brain or body, mimicking the effects of naturally occurring neurotransmitters, hormones, or other substances.

Behavioral Geneticists

Behavioral geneticists study the role of genetics and the environment in influencing human behavior, using methods including twin studies, family studies, and molecular genetics.

Environment

The surroundings or conditions in which a person, animal, or plant lives or operates, including natural and built environments.