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Guys tell me the difference b/w …

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Guys tell me the difference b/w explicit and implicit cost Reply kro to plz hindi me batana nhi ek dam simple language me batana becoz ye ques. Mujhe book se samajh nhi aata

    • Posted by Elis Pandit 7 years, 10 months ago

    CBSE > Class 12 > Economics
    • 2 answers

    Vaidehi Saraf 7 years, 10 months ago

    When we take land on rent and paid this amount to the owner of land then it is explicit cost and when we use our own land for our work then this is implicit cost.

    3Thank You

    Karthika A S 7 years, 10 months ago

    Explicit cost means money payment made by the firm to the owners of the various factors of production for their services Implicit cost means imputed value of inputs owned by the firm and used by it in its own production units

    1Thank You

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