An Example of an Implicit Cost of Production Is

question 27

Multiple Choice

An example of an implicit cost of production is:

• A)the cost of leather used in manufacturing furniture.
• B)the cost of space in someone's home that is used as his or her home office
• C)the wage paid to a high school student who works in a fast-food restaurant
• D)the cost of milk bought by household consumers
• E)the wage of a high school teacher who provides tuitions to his students after school hours.