1. Which of the following constitutes an implicit cost to the Johnston Manufacturing Company? a. Payments of wages to its office workers. b. Rent paid for the use of equipment owned by the Schultz Machinery Company. c. Use of savings to pay operating expenses instead of generating interest income. d. Economic profits resulting from current production.

1. Which of the following constitutes an implicit cost to the Johnston Manufacturing Company?
a. Payments of wages to its office workers.
b. Rent paid for the use of equipment owned by the Schultz Machinery Company.
c. Use of savings to pay operating expenses instead of generating interest income.
d. Economic profits resulting from current production.

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