The cost that a firm pays in money to hire a resource is referred to as ________ cost.
A) a minimized
B) a maximized
C) an explicit
D) an implicit
E) a total

Name: The cost that a firm pays in money to hire a resource is referred to as ________ cost. A) a minimized B) a maximized C) an explicit D) an implicit E) a total
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Question

Quizplus · Accepted Answer

Explicit cost refers to the actual money payment made by a firm to purchase or hire a resource.

The Cost That a Firm Pays in Money to Hire