Implicit Costs Can Be Defined as

question 100

Multiple Choice

Implicit costs can be defined as

• A)accounting profit minus explicit cost.
• B)the non-monetary opportunity cost of using the firm's own resources.
• C)the deferred cost of production.
• D)total cost minus fixed costs.

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Definitions:

Screening Interview

An initial interview process used to determine if candidates meet the basic requirements of a job before proceeding to more in-depth interviews.

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Automobile Industry

The sector of the economy focused on the manufacture, design, development, marketing, and selling of motor vehicles.

Panel Interview

A job interview where the candidate is questioned by several interviewers simultaneously.