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Basic Question 0 of 8
An implicit cost refers to ______.
B. the opportunity cost of factors of production provided by the owners of the firm
C. explicit payments to the factors of production
A. any increase in the value of the assets owned by the firm
B. the opportunity cost of factors of production provided by the owners of the firm
C. explicit payments to the factors of production
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Martin Rockenfeldt
Learning Outcome Statements
describe the phenomenon of diminishing marginal returns;
CFA® 2024 Level I Curriculum, Volume 2, Module 8.