Answered: An explicit cost is defined as a cost…

An explicit cost is defined as a cost that involves spending money. a cost that does not change as output changes. O a nonmonetary accounting cost. O a nonmonetary opportunity cost.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

An explicit cost is defined as
a cost that involves spending money.
a cost that does not change as output changes.
O a nonmonetary accounting cost.
a nonmonetary opportunity cost.

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