Which of the Following Is an Example of an Implicit

question 163

Multiple Choice

Which of the following is an example of an implicit cost?

• A)salaries paid to owners who work for the firm
• B)interest on money borrowed to finance equipment purchases
• C)cash payments for raw materials
• D)foregone rent on office space owned and used by the firm

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Definitions:

Women Singers

Female vocal artists who perform music across various genres.

Radio

A technology for the wireless transmission of sound broadcasts to a wide audience, playing a key role in mass communication throughout the 20th century.

Black Artists

Artists of African descent or those identifying as black who contribute to various forms of art, including visual arts, music, dance, and performance.

Conservative White Owners

Generally refers to white land and business owners who traditionally hold conservative political and social views, often prioritizing property rights and economic status quo.