Explicit Versus Implicit Costs
Which of the following is generally easier to calculate, explicit costs or implicit costs?
A
Explicit costs, because they involve direct monetary expenditures by the firm
B
Explicit costs, because they do not involve a specific dollar amount
C
Implicit costs, because they involve direct monetary expenditures by the firm
D
Implicit costs, because they do not involve a specific dollar amount
Question Leaderboard
Not enough data yet to show leaderboard.