An explicit cost for a business that manufactures bicycles would be the

Question

Quizplus · Accepted Answer

Wages paid to employees are an explicit cost for a business because they are payments made by the firm for the services provided by their workers. The other choices are not explicit costs because they do not involve direct payments made by the firm. A) represents an opportunity cost; B) represents an implicit cost; C) is a transfer payment or redistribution of income, not an expense incurred by the firm; and E) is not a cost incurred by the firm, but rather a potential alternative use of resources.

An Explicit Cost for a Business That Manufactures Bicycles Would