Economics · Cost Concepts

Which of the following is an example of an implicit cost?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Wages paid to hired laborers
2Imputed rent for the use of own land✓
3Expenditure incurred on purchasing raw materials
4Interest paid on borrowed capital

Correct answer

Imputed rent for the use of own land

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Which of the following is an example of an implicit cost?

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Which of the following is an example of an implicit cost?

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