Which of the Following Is Not an Explicit Cost

question 131

Multiple Choice

Which of the following is not an explicit cost?

• A) Payment for raw materials
• B) The value of the firm's owner own time
• C) Wages for the workers
• D) Insurance cost
• E) Utilities payment

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Definitions:

Prejudice

A preconceived opinion that is not based on reason or actual experience, often directed towards people or groups.

Jane Elliott

An educator known for her "Blue eyes/Brown eyes" exercise, highlighting the impacts of discrimination and racism.

Equal in Status

Describes a condition wherein individuals or groups possess the same standing, rights, or value within a particular context.

Divergent Group Goals

refer to when different groups or teams have objectives that contradict or do not align with each other.