Which of the Following Statements Is True

question 224

Multiple Choice

Which of the following statements is true?

• A)Opportunity cost = explicit cost - implicit cost.
• B)Total cost = fixed cost + implicit cost.
• C)Total cost = fixed cost + variable cost.
• D)Variable cost = wages + salaries + benefits.

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Definitions:

Globalization

The process of interaction and integration among people, companies, and governments worldwide, influenced by trade, investment, and technology.

Risk Profile

An evaluation of an individual's or organization's willingness and capacity to take risks, as well as the potential loss that could result from those risks.

Down Sloping

Describes a trend or movement in a chart where indicators or values are moving downward over time.