3 years ago

Which of the following is an implicit cost in Jim's business venture?

Business

1 answer:

lozanna [386]3 years ago

3 0

Answer:

D) i and iii

Explanation:

Implicit cost refers to economic costs that are not directly attributed to the business but are nevertheless important in making informed decisions. In this case the opportunity costs are implicit cost. They are:

Salary forgone which should have been earned at another job, and
Interest lost from savings account.

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Answer:

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