Economics · Theory of Cost and Production

The sum of explicit cost and implicit cost is equal to which of the following?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Monetary cost
2Non-economic cost
3Economic cost✓
4Social cost

Correct answer

Economic cost

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The sum of explicit cost and implicit cost is equal to which of the following?

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The sum of explicit cost and implicit cost is equal to which of the following?

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