Implicit Costs Are

question 379

Multiple Choice

Implicit costs are

• A) the costs of using factors that a producer hires or rents.
• B) the opportunity costs of using factors that a producer does not buy or hire but already owns.
• C) costs that are taken into consideration by accountants.
• D) costs that are variable in the short run and fixed in the long run.

---

Definitions:

Key Assumptions

Fundamental beliefs or statements that are accepted as true without proof, serving as the basis for further argument or investigation.

Types of Social Movements

Categories defining the variety of collective actions aimed at achieving specific societal changes, based on their goals, tactics, and organizational structures.

Social Change

The transformation over time of cultural norms, societal structures, and patterns of behavior within a community or society.

Enact Change

The process of implementing significant alterations or transformations in society, organizations, or personal life through deliberate actions and strategies.