Which of the following is an example of an implicit cost of production? refers to the opportunity cost arising from a decision to choose one alternative over another. Thus, if the owner could have ...

Implicit costs are those that have already occurred, but haven't been accounted for separately. As a company uses internal resources for a project without explicitly compensating them for their use, ...

It's a type of implicit cost for your employer. There can be a downside to this type of compensation. If you receive a salary, you have specific goals, responsibilities, and/or tasks that must be ...