An example of an implicit cost is:
A)interest paid on a bank loan.
B)wages paid to a family member.
C)the value of a spare bedroom turned into a home office.
D)operating costs of a company-owned car.

Name: An example of an implicit cost is: A)interest paid on a bank loan. B)wages paid to a family member. C)the value of a spare bedroom turned into a home office. D)operating costs of a company-owned car.
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Question

Quizplus · Accepted Answer

Implicit costs are the opportunity costs of the resources supplied by the owner of the firm.

An Example of an Implicit Cost Is