Implicit opportunity costs of running a business include:
A)bills that a company pays.
B)debt that a company has accumulated during the year.
C)earnings that are given up in order for the owner to start or run a business.
D)the imagined costs of inputs that a company buys at a discount.

Question

Quizplus · Accepted Answer

Implicit opportunity costs refer to the earnings that are given up in order for the owner to start or run a business. These costs are not easily visible or quantifiable, but they are an important consideration for any business owner. Choices A, B, and D refer to explicit costs such as bills, debt, and imagined costs, respectively.

Implicit Opportunity Costs of Running a Business Include