Economy, asked by layrajack, 7 months ago

distinguished between explicit cost and implicit cost . give an example of each ​

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Answered by kalyanink87gmailcom
3

Answer:

Other examples of implicit costs

The cost of investing in a new factory is an explicit cost, but the loss of interest is an implicit cost. A business owner may take a pay cut to remain profitable. This loss of earnings for the owner is an implicit cost for business

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