The two main types of implicit opportunity costs are:bills paid and revenue forgone.bills paid and forgone wages.forgone wages and forgone interest.earned wages and earned interest.

Opportunity costs are the value of the next best alternative forgone. Opportunity costs are implicit…

Answered: forgone wages and forgone interest.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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