How Are Implicit Costs Defined

question 67

Multiple Choice

How are implicit costs defined?

• A)Accounting profit minus explicit cost.
• B)The nonmonetary opportunity cost of using the firm's own resources.
• C)The deferred cost of production.
• D)Total cost minus fixed costs.

---

Definitions:

Previous Employer

The company or individual for whom someone worked in the past, often referred to as part of background checks or job applications.

Technical Interview Questions

Questions designed to assess a candidate's technical knowledge or skillset related to a specific job or field.

Behavioral Questions

Questions asked in interviews that require a candidate to describe past behavior as an indicator of future performance.

Competency Questions

Questions asked during interviews designed to evaluate a candidate's ability to perform specific job-related functions based on past behavior and experiences.