Question

opportunity cost and producers​

Answer 1

Answer:

Explicit costs are opportunity costs when producers make direct payments for expenses such as salaries and wages of employees, rent and utility expenses, and material costs. For example, a company has a $10,000 rent expense. The opportunity cost of $10,000 could have been spent on other aspects of business operations.

Answer 2

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Explicit costs are opportunity costs when producers make direct payments for expenses such as salaries and wages of employees, rent and utility expenses, and material costs.

For example, a company has a ₹10000 rent expense. The opportunity cost of ₹10000 could have been spent on other aspects of business operations.

Hope it helps!