Ask Question
26 December, 20:35

What are implicit costs? an implicit cost is

a. a cost that remains constant as output changes.

b. the highest-valued alternative that must be given up to engage in an activity.

c. a nonmonetary opportunity cost.

d. a cost that changes as output changes.

e. a cost incurred in the longlong run?

+3
Answers (1)
  1. 26 December, 20:48
    0
    The correct option is "c".

    An implicit cost is a nonmonetary opportunity cost.

    Implicit costs refer to any cost that has already occurred however isn't really appeared or detailed as a different cost. It represents an opportunity cost that emerges when an organization dispenses inward assets toward a venture with no explicit compensation for the usage of assets.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “What are implicit costs? an implicit cost is a. a cost that remains constant as output changes. b. the highest-valued alternative that must ...” 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