Question

what is meant by implicit cost ???​

Answer 1

Explanation:

An implicit cost is any cost that has already occurred but not necessarily shown or reported as a separate expense. It represents an opportunity cost that arises when a company uses internal resources toward a project without any explicit compensation for the utilization of resources.

Answer 2

implicit cost is the opportunity cost of self want and self employed resource . Interest on entrepreneurs capital or rent for new entrepreneur on buildings are example of implicit costs