Question

what is total cost explicit and implicit cost is what

Answer 1

Hii !!

Explicit cost is one that has occurred and clearly shown as a separate cost ...
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while an implicit cost is a cost that has occurred but it is not shown as a separate cost ....

hope it helps u✌

Answer 2

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