WGU D089 Module 5 Practice Test Questions with 100% Correct Answers/ D089 Principles of Economics Module 5 Practice Exam 2025 Principles of Economics
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12/31/24, 1:48 PM D089 - Module 5 Practice
pg. 1
Points: 10/12
Correct 1/1 Points
1 Which of the following is an implicit cost of production? *
wages paid to workers the electric bill normal profit
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The business owner expects to earn a return on the entrepreneurial effort they put into the business. This is known as normal profit. There is no legal requirement that entrepreneurial effort be paid, so normal profit is not an explicit cost. However, if the owner does not receive a return on their effort, they will not stay in the industry. This makes normal profit an implicit cost.
purchases of raw material
Correct 1/1 Points
D089 - Module 5 Practice D089 Course Instructors have created this resource to help develop your knowledge of the concepts in Module 5. We recommend reading the material in your Acrobatiq text and watching the videos before working on the questions. Please note that these questions do not come from the actual assessment. Course Instructors are not privy to information on the assessment. If you have any questions, please feel free to reach out to us at economics@wgu.edu.
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