Question

Define inplicit cost​

Answer 1

Answer:

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In economics, an implicit cost, also called an imputed cost, implied cost, or notional cost, is the opportunity cost equal to what a firm must give up in order to use a factor of production for which it already owns and thus does not pay rent

Answer 2

Hey mate here is your answer ✨ ✨

Implicit cost is the cost that has already occurred but not necessarily shown or reported as a separate expenses. It represents as opportunity cost that arise when a company use internal resources towards a project without any explication..

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