Question

notional cost is also known as​

Answer 1

Answer:

In economics, an implicit cost, also called an imputed cost and payment is not made other, 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

$\bf\bigstar\:{ANSWER}\:\bigstar$

Notional costs are also known as imputed cost.

$\bf\bigstar\:{EXPLANATION}\:\bigstar$

The primary objective of charging notional costs is to enable management to make clearer internal decisions by making sure that internal decision making become more realistic by assuming that the cost of all resources consumed reflects the full economic value - usually by applying market prices.

Hope this answer can helps you dear...