Question

National cost is known as
a) out of packet cost
b) opportunity cost
c) imputed cost
d) variable Cost ​

Answer 1

National cost is known as imputed cost.

• In the field of economics, an imputed cost can be described as a cost which occurs due to using an asset.
• An imputed cost is also referred to as an implied cost or national cost.
• It shows what a system of a firm needs to give up so that a factor of production can be achieved.
• As in a national cost, assets are being utilized hence a national cost is an imputed cost.

Answer 2

Answer:

c) Imputed cost

National cost is known as imputed cost.

Explanation:

National cost are the termed imputed cost.

These are implied costs and opposite to explicit.

Theses costs are not relevant in decision making. These costs are also called as imputed costs. It is the opportunity cost what the entry must give up for production or rendering of  the goods/services.