Which of the Following Is an Example of an Implicit

question 80

Multiple Choice

Which of the following is an example of an implicit cost a firm might incur?

• A)the out-of-pocket expense to hire resources
• B)taxes owed to the state and Federal governments
• C)the rental value of the office space the company owns and uses for itself
• D)the revenue a firm generates in using its resources

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Definitions:

Recycling

The process of collecting and processing materials that would otherwise be thrown away as trash and turning them into new products.

Water Conservation

The preservation, control, and management of water resources to prevent waste, overuse, or deterioration and to ensure sustainable access to clean water.

Pollution Control

The process of reducing or eliminating the release of pollutants into the environment, often through regulatory measures and technologies.

Greenwashing

The practice of making an unsubstantiated or misleading claim about the environmental benefits of a product, service, technology, or company practice.