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valentina_108 [34]
2 years ago
10

Define Implicit Cost ​

Social Studies
2 answers:
ioda2 years ago
5 0

Implicit costs are imputed costs of self-owned and self-employed resources.

Example:

  • (i) Interest on entrepreneur's own capital.

  • (ii) Rent on entrepreneur's own land used in business.
Elenna [48]2 years ago
4 0

Answer:

\:  \:

Implicit Cost is the esteemed value of the inputs supplied by the owners including normal profit .

ƒσя єχαмρℓє :

  • Rent of own land

  • Salary for the services of entrepreneur

  • Interest on own capital.
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