Distinguish between implicit and explicit costs and give examples of each.In addition,explain how explicit and implicit costs affect the distinction between economic profit and accounting profit.What explains the distinction between the two measures of profit?

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The Answer of Distinguish between implicit and explicit costs and give examples of each.In addition,explain how explicit and implicit costs affect the distinction between economic profit and accounting profit.What explains the distinction between the two measures of profit?

Distinguish Between Implicit and Explicit Costs and Give Examples of Each.In