An Implicit Cost Is

question 116

Multiple Choice

An implicit cost is

• A)any cost a firm cannot avoid in the short run
• B)any expenditure a firm makes
• C)an opportunity cost
• D)accurately measured in accounting statements
• E)ignored by economists

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Definitions:

Ratified

Formally approved or confirmed, often referring to the process by which legislation or constitutional amendments become valid.

Clean Air Act

A United States federal law designed to control air pollution on a national level, aiming to protect and improve the nation's air quality and the stratospheric ozone layer.

Stationary Sources

Stationary sources are fixed sites or facilities that emit pollutants into the environment, such as factories, power plants, and refineries.

Hazardous Air Pollutants

Substances in the air that can cause harm to human health or the environment, often regulated by environmental protection laws.