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?

Question

Business

Mercedes Shelton

19 September, 03:56

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)

Know the Answer?

Aubree Hebert · Answer 1

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.

What are implicit costs? an implicit cost isa. 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?

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?