ge - ECON 1 Microeconomics Online Section 11301 - Winter20 - PRANTE > Activities and Due...

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ge - ECON 1 Microeconomics Online Section 11301 - Winter20 - PRANTE > Activities and Due Dates > Give Up? O Hint O Assignment

bection 11301 - Winter20 - PRANTE > Activities and Due Dates > Onti O Assignment Score: 67.6% Lx Give Up? Hint Check Answer Q

business economics

Answer 1

Answer #1

explicit cost = payment to outside factors	implict cost = cost of own resources or imputed value.
janitorial staff	consulting services of manager that might ber taken
packing crates bought from shipping company	natural gas from gas utility
purchase of new computer	warehouse rented to store inventory
	current value of centuries old secret process
	factory owned by widget R us

Answer 2

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