Which of the Following Statements Is False

question 87

Multiple Choice

Which of the following statements is false?

• A)An explicit cost is a nonmonetary opportunity cost.
• B)In the short run: total cost = fixed cost + variable cost.
• C)Variable costs are costs that change as output changes.
• D)In the long run there are no fixed costs.

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Definitions:

Happiness

A state of well-being characterized by emotions ranging from contentment to intense joy.

Unhappiness

A state of mind or feeling characterized by dissatisfaction, sadness, or lack of joy.

Ethically Ambiguous

Situations or actions that are unclear in terms of morality or ethics, often presenting a dilemma.

Attitude

A psychological tendency expressed by evaluating a particular entity with some degree of favor or disfavor.