Question

What are explicit Costs?

Answer 1

Explanation:

An explicit cost is a direct payment made to others in the course of running a business, such as wage, rent and materials, as opposed to implicit costs, where no actual payment is made..

Answer 2

Answer:

Explanation:

An explicit cost is a direct payment made to others in the course of running a business, such as wage, rent and materials, as opposed to implicit costs, where no actual payment is made. ... Accounting profit only takes explicit costs into account.