Which of the following is the implicit cost for a typical firm?

Question

Quizplus · Accepted Answer

Implicit costs are the opportunity costs of a firm's resources, or the returns that these resources could have earned in their next-best use. The opportunity cost of capital owned and used by the firm is an example of an implicit cost, as it is the cost of using a resource that could have been used to generate income elsewhere. The other options are examples of explicit costs, or costs that involve direct payment of money.

Which of the Following Is the Implicit Cost for a Typical