Which of the Following Is an Implicit Cost

question 56

Multiple Choice

Which of the following is an implicit cost?
i.wages paid to workers
ii.the normal profit
iii.the electric bill

• A) i only
• B) ii only
• C) i and ii
• D) ii and iii
• E) Neither i, ii, nor iii

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Definitions:

Community Problems

Challenges or issues that affect the wellbeing or functioning of a community, requiring collective action to address.

Alcohol Abuse

The excessive or inappropriate consumption of alcohol, leading to negative impacts on health, social life, and/or occupational functioning.

Poor Judgment

The tendency to make decisions or take actions that are not well considered or wise, often leading to unfavorable outcomes.

Wishful Thinking

The formation of beliefs based on what is desired to be true rather than on evidence, reality, or rationality.