Which of the following is an example of an implicit cost a firm might incur?

Question

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Implicit costs refer to the opportunity cost of using a firm's own resources rather than seeking alternative uses for them. The rental value of the office space the company owns and uses for itself is an example of an implicit cost because the company is forgoing the opportunity to rent out the space to someone else and generate rental income. A is incorrect because it refers to an explicit cost, which is a cost that involves a direct monetary payment. B is incorrect because it refers to a tax expense, which is also an explicit cost. D is incorrect because it refers to revenue, which is not a cost but rather a source of income.

Which of the Following Is an Example of an Implicit