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Which of the following are correct statements about implicit and explicit costs?
i.Normal profit is an implicit cost.
ii.Economic depreciation is an explicit cost.
iii.Wages are an explicit cost.
Sternberg
An American psychologist named Robert Sternberg, known for his theory on the triarchic theory of intelligence.
Creativity
The ability to generate new ideas, solutions, or innovative approaches.
Novel Ideas
Original or innovative thoughts or concepts that have not been previously considered or explored.
Unique Ideas
Concepts, perspectives, or solutions that are original and distinct from previously known ideas.
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