Costs where one has to give up something of value that is not necessarily denominated in dollars. Select one: a. Sunk Cost b. Variable Cost c. Implicit Cost d. Fixed Cost e. Explicit Cost
Costs where one has to give up something of value that is not necessarily denominated in dollars. Select one: a. Sunk Cost b. Variable Cost c. Implicit Cost d. Fixed Cost e. Explicit Cost
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Lesson 8 - Costs
Question 5
![Costs where one has to give up something of
value that is not necessarily denominated in
dollars.
Select one:
a. Sunk Cost
b. Variable Cost
c. Implicit Cost
d. Fixed Cost
e. Explicit Cost](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F17f646ba-b993-4044-9bb2-45d012c56776%2F8722a05f-dc56-46b1-a323-ba6e7e426553%2Feyj0yn7_processed.png&w=3840&q=75)
Transcribed Image Text:Costs where one has to give up something of
value that is not necessarily denominated in
dollars.
Select one:
a. Sunk Cost
b. Variable Cost
c. Implicit Cost
d. Fixed Cost
e. Explicit Cost
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