1 _____ = 1 Billion Bytes

question 4

Multiple Choice

1 _____ = 1 billion bytes

• A) terabyte
• B) gigabyte
• C) megabyte
• D) petabyte
• E) zettabyte

---

Definitions:

Implicit Costs

The opportunity costs of using resources owned by the firm for its own use, rather than earning income from these resources elsewhere.

Explicit Costs

Direct, out-of-pocket payments for inputs or resources employed in the production of goods or services.

Total Cost

The aggregate amount of expenses incurred by a business in producing goods or services, including both fixed and variable costs.

Economic Profit

The variance between gross receipts and all outlays, including both tangible and intangible costs.