Statement The electricity company informed consumers through a notice that those whose did not pay their bills by the due date would be charged penalty for every day of default. Assumptions I. Money collected as penalty would compensate for the losses incurred due to delay in making payment in bills II. People generally read notice. III. Majority of people would pay their bills by the due date to avoid penalty.

• All are implicit
• Only I is implicit
• None is implicit
• I and II are implicit