Expenses that a firm does not have to pay out of pocket are

Name: Expenses that a firm does not have to pay out of pocket are
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Question

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Implicit costs are the opportunity costs associated with the use of a resource that the firm already owns or employs, so they do not involve any actual outlay of cash or other resources from the firm. Wages of employees and taxes are examples of explicit costs that do require a direct outlay of resources from the firm.

Expenses That a Firm Does Not Have to Pay Out