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meriva
3 years ago
6

Input costs that require an outlay of money by the firm are called _______ costs while input costs that do not require an outlay

of money by the firm are called _______ costs.
Business
1 answer:
kolbaska11 [484]3 years ago
3 0

Answer: Explicit costs , Implicit cost.

Explicit Costs is an Input costs that require an outlay of money by the firm. e.g (Paying for supplies, paying workers).

Implicit Costs is an Input costs that do not require outlay of money by the firm. e.g (Could be working somewhere else and making money but giving up the money you could be making because of where you work now).

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arbitration

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2 years ago
When the goods are sold, their costs are transferred from work in process to finished goods.
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