Business, 08.11.2019 22:31 ameliaxbowen7

Explicit costs are payments the firm makes for a. inputs such as wages and salaries to its employees, whereas implicit costs are nonexpenditure costs that occur through the use of self-owned resources such as forgone income. b. inputs such as wages and salaries to its employees, whereas implicit costs are expenditure costs that occur for services such as travel expenses for its employees. c. outputs such as desks for its employees, whereas implicit costs are expenditure costs that occur for services such as travel expenses for its employees. d. outputs such as desks for its employees, whereas implicit costs are nonexpenditure costs that occur through the use of self-owned resources such as forgone income.

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Explicit costs are payments the firm makes for a. inputs such as wages and salaries to its employees...

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