Economy, asked by sejaljainsj21, 11 months ago

what is explicit and implicit cost?

Answers

Answered by Anonymous
3

Explicit Cost and Implicit Cost. ... Explicit Cost refers to the one paid to the factors outside the firm. Conversely, Implicit Cost are the one that arise from using the asset rather than renting it out.

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Answered by tamal94
6

Answer:

Difference Between Explicit Cost and Implicit Cost. ... Explicit Cost refers to the one paid to the factors outside the firm. Conversely, Implicit Cost are the one that arise from using the asset rather than renting it out.

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