The total costs of Fraggini's Pizza include implicit costs plus explicit costs.

Name: The total costs of Fraggini's Pizza include implicit costs plus explicit costs.
Brand: Quizplus
Rating: 4.8 (42 reviews)

Question

Quizplus · Accepted Answer

Implicit costs are the opportunity costs of using resources owned by the company for its operations, while explicit costs are the direct, out-of-pocket payments for inputs to production. The total costs of a business, like Fraggini's Pizza, include both these types of costs.

The Total Costs of Fraggini's Pizza Include Implicit Costs Plus