Implicit cost is equal to:

CA Foundation · Business Economics · MTP · January 2025
Implicit cost is equal to:
(A) A. business profit minus economic profit.
(B) B. business profit plus economic profit.
(C) C. economic profit minus business profit.
(D) D. economic profit minus explicit cost.

Suggested Answer and Working Notes:

Correct Answer: Option (D)

D. economic profit minus explicit cost.

Topics: Theory of Production and Cost

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