Question content area

Part $1$

What are implicit$$ costs?

Part $2$

An implicit cost is

Part $3$

A$.$

a cost that remains constant as output changes.

B$.$

the$$ highest$-$valued alternative that must be given up to engage in an activity.

C$.$

a cost incurred in the

longlong

run.

D$.$

a cost that changes as output changes.

E$.$

a nonmonetary opportunity cost.

Part $4$