Question

Accountants include ________ costs as part of a firm's costs, while economists include ________ costs. Group of answer choices implicit; no implicit explicit and implicit; implicit explicit; no explicit explicit; explicit and implicit

Answer 1

Answer:

Explicit, explicit and implicit

Explanation:

The accounting cost is the cost that generally includes the payment related to the wages, rent, price of the products etc

While on the other hand, the economic cost is the cost that involves both type of cost i.e. explicit and implicit. The implicit cost is generally the opportunity cost

This is the answer but the same is not provided in the given options