Become less valuable over time
Answer and Explanation:
The identification of each transaction as an explicit cost or implicit cost is as follows
a. It is an explicit cost as the cost would be paid to the factors of production
b. It is also an explicit cost as the cost would be paid to the factors of production
c. It is an implicit cost as it is considered to be the hidden cost
d. It is also an implicit cost as it is considered to be the hidden cost
The answer is A. Providing legal advice
Answer:
Explanation:
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The correct answer among the choices given is the third option. Speculation would mean to an economist as making high-risk investments with borrowed money. It is the purchase of something hoping for it to be more valuable at a certain time.
