Implicit costs that do not require a money outlay are typically ignored by economists.

Name: Implicit costs that do not require a money outlay are typically ignored by economists.
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Economists consider implicit costs, which represent the opportunity costs of using resources owned by the firm for its current purpose rather than the next best alternative, important for understanding economic profit, even though these costs do not involve a direct money outlay.

Implicit Costs That Do Not Require a Money Outlay Are