To the economist, total cost includes:
A. explicit and implicit costs, including a normal
profit.B. neither implicit nor explicit costs.
C. implicit, but not explicit, costs.
D. explicit, but not implicit, costs
To the economist, total cost includes:
A. explicit and implicit costs, including a normal
profit.B. neither implicit nor explicit costs.
C. implicit, but not explicit, costs.
D. explicit, but not implicit, costs