Which of the Following Is an Implicit Cost

question 29

Multiple Choice

Which of the following is an implicit cost?

• A)salaries paid to owners who work for their own firm
• B)interest on money borrowed to finance equipment purchases
• C)cash payments for raw materials
• D)wages paid to hourly employees
• E)foregone rent on office space owned and used by the firm

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Definitions:

Elon University

A private university located in Elon, North Carolina, known for its focus on experiential learning and global engagement.

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Internship Success

The achievement and fulfillment of predetermined goals during a professional learning experience.