What are implicit costs? an implicit cost is

a. a cost that remains constant as output changes.

b. a cost that changes as output changes.

c. a cost incurred in the long run.

d. a nonmonetary opportunity cost.

e. the highest-valued alternative that must be given up to engage in an activity. how are implicit costs different from explicit costs?

a. an explicit cost is a cost that involves spending money, while an implicit cost is a nonmonetary cost.

b. an explicit cost is not an opportunity cost, while an implicit cost is an opportunity cost.

c. an explicit cost is a cost incurred holding output constant, while an implicit cost is a cost incurred as output changes.

d. an explicit cost is a cost incurred in the short run, while an implicit cost is a cost incurred in the long run.

e. both a and

b?

The penalties for a first-time dui charge include revocation of drivers license a. 180 days b. ben 180 des and one year c. bence 90 and 180 d. one year

Suppose that a worker in agland can produce either 10 units of organic grain or 2 units of incense per year, and a worker in zenland can produce either 5 units of organic grain or 15 units of incense per year. there are 20 workers in agland and 10 workers in zenland. currently the two countries do not trade. agland produces and consumes 100 units of grain and 20 units of incense per year. zenland produces and consumes 50 units of grain and no incense per year. if each country made the decision to specialize in producing the good in which it has a comparative advantage, then the combined yearly output of the two countries would increase by a. 30 units of grain and 100 units of incense. b. 30 units of grain and 150 units of incense. c. 50 units of grain and 90 units of incense. d. 50 units of grain and 130 units of ince

According to this excerpt, a key part of our national security strategy is