To The economist, total costs include A) implicit, but not explicit, costs B) ex

Question

To The economist, total costs include
A) implicit, but not explicit, costs B) explicit, but not implicit, costs C) explicit and implicit costs D) neither implicit nor explicit costs To The economist, total costs include
A) implicit, but not explicit, costs B) explicit, but not implicit, costs C) explicit and implicit costs D) neither implicit nor explicit costs
A) implicit, but not explicit, costs B) explicit, but not implicit, costs C) explicit and implicit costs D) neither implicit nor explicit costs

Explanation / Answer

Answer is (c). To an economist, total cost includes both implicit and explicit cost.

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