Ask Question
BusinessBusiness
10 February, 01:53

Implicit cost is a

a. cost incurred in the past that cannot be changed by current decisions and therefore cannot be recovered.

b. sunk cost.

c. cost that represents the value of resources used in production for which no monetary payment is made.

d. cost that is incurred when a monetary payment is made

+3
Answers (1)
  1. 10 February, 01:58
    0
    Answer: (C) Cost that represents the value of resources used in production for which no monetary payment is made

    Explanation:

    The implicit cost is one of the type of economical cost which represent the resources values in the production.

    In the implicit cost no monetary payment is made that is actual payment in the opportunity cost.

    Implicit cost is also known as national cost and the implied cost. The implicit cost refers to the cost which is using in the form of asset rather than selling it and this term is also refers to the foregone income.

    Therefore, Option (C) is correct.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Implicit cost is a a. cost incurred in the past that cannot be changed by current decisions and therefore cannot be recovered. b. sunk ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Francine wants to become a school counselor. Which skill would be most useful for a successful career? A. numeracy B. time-management C. compassion D. leadership E. Teamwork
Answers (2)
George and Miguel are considering opening up a shoe store but first need to do market research. Which one of these is NOT part of the market research process?
Answers (1)
Choose all that apply. Select sources of income. wages from your job a rent check from someone renting a property you own interest deposited into your savings account
Answers (1)
why would you put money into a savings account? a. to make frequent withdrawals at ATMs b. To easily access money from this account with a debit card c. to earn interest in your money d. to access the money from this account with personal checks
Answers (2)
A company is trying to decide whether to keep or drop the organic foods department in its grocery store. If organic foods are dropped, the manager will be laid off.
Answers (1)
New Questions in Business
Understand payments involved with insurance. is a monthly payment is a payment to the policy is a payment to the doctor is a fixed payment for treatment
Answers (2)
You have been placed in charge of a large project. Shortened communication lines are required to ensure quick resolution of problems as they arise.
Answers (1)
Six months ago, you purchased 2,300 shares of ABC stock for $28.08 a share. You have received dividend payments equal to $.80 a share. Today, you sold all of your shares for $30.07 a share. What is your total dollar return on this investment?
Answers (1)
What does it mean to have liability for a company? A. It means your company is late in paying its taxes. B. It means you have a conflict of interest because you are in a position where you can take unfair advantage of your customers. C.
Answers (1)
Laura owns 6,700 shares of GP Global stock worth $92,460. The firm has 15,000 shares outstanding. Each share is entitled to one vote under the straight voting policy of the firm.
Answers (1)
Home » Business » Implicit cost is a a. cost incurred in the past that cannot be changed by current decisions and therefore cannot be recovered. b. sunk cost. c. cost that represents the value of resources used in production for which no monetary payment is made. d.
Sign Up Forgot Password?