Explicit costs would include
A) the rent paid by a business owner for office space
B) the interest loss of the business owner on money withdrawn from his/her savings account and invested in the business
C) the loss of rent on a building the business owner owns and uses in his/her business
D) the opportunity costs of the business owner's time
E) the use of tools owned by the business owner and dedicated to the business

Question

Quizplus · Accepted Answer

Rent paid for office space is an explicit cost because it is a payment made to a third party for the use of a resource.

Explicit Costs Would Include