Implicit costs are opportunity costs of using the resources of a. outsiders. b. owners. c. banks. d. retained earnings.

Question:

Implicit costs are opportunity costs of using the resources of

a. outsiders.

b. owners.

c. banks.

d. retained earnings.

Implicit Costs:

Implicit costs are those costs that are incurred but never paid for. Opportunity costs are such costs because no payment needs to be made for covering opportunity costs but they are known to exist.

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Implicit Cost Definition, Types & Examples

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Chapter 22 / Lesson 31

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Learn the implicit cost definition and compare implicit cost vs. explicit cost. Study implicit cost examples and how the two types of implicit costs are calculated.

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Implicit costs are opportunity costs of using the resources of a. outsiders. b. owners. c....

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Implicit Costs:

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