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Which of the Following Is an Implicit Cost in Jim's

question 74

Multiple Choice

Which of the following is an implicit cost in Jim's business venture?
i.the salary Jim could have earned at another job
ii.the interest Jim must pay on the loan he incurred to help open his business
iii.the interest Jim lost when he used his savings to help open his business


Definitions:

International Customer

A client or buyer who purchases goods or services from a business located in a different country.

Debt Securities

Financial instruments representing a loan made by an investor to a borrower, typically involving fixed interest payments and repayment of principal at maturity.

Acquisition

The process of obtaining control of another company, either through purchase or merger.

Dividend Income

Income received from owning shares in a company, typically distributed from the company's earnings.

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