Answer: (C) Cost that represents the value of resources used in production for which no monetary payment is made
Explanation:
The implicit cost is one of the type of economical cost which represent the resources values in the production.
In the implicit cost no monetary payment is made that is actual payment in the opportunity cost.
Implicit cost is also known as national cost and the implied cost. The implicit cost refers to the cost which is using in the form of asset rather than selling it and this term is also refers to the foregone income.
Therefore, Option (C) is correct.
Free Market, self regulating
The availability of consumer credit does not help launch new products, rather,<span>consumer credit may help push new products across the adoption curve faster.</span>
brand awareness marketing objective does this ad align with.
What is Brand Awareness Marketing?
The degree to which consumers can recall or recognise a brand under various circumstances is known as brand awareness. The associative network memory model of brand knowledge has two aspects, one of which is brand awareness. Consumer behaviour, advertising strategy, and brand management all heavily rely on brand awareness. The choice to buy something is mostly based on the consumer's capacity to recognise or recall a brand. Consumers must first be aware of a product category and a brand within it in order to proceed with a purchase.
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The correct statement will be that the monthly lease payments that Ralph will have to make to lease such a car will be $362.17. So, the correct option that matches the statement is not quoted above.
The calculation of monthly lease payment can be done by deduction of residual value and dividing such value by number of months.
<h3>
Calculation of monthly lease payments</h3>
- The residual value can be calculated by using the formula by applying the given information,
- So, depreciation of the car after three years will be $8960.
- Interest payment per month will be calculated as,
- And the payment towards actual lease would be,
- So, total monthly payment towards leasing such car will be,
Hence, the correct statement is that the monthly payment towards the lease of car by Ralph will be $362.17 and none of the options given is correct.
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