explicit cost (redirected fromExplicit Costs) A directexpensethat a business incurs in conducting anactivity. Examples of explicit costs includesalaries,wages, materials, etc. An explicit cost can be recurring, or it can be a one-off expense. Likewise, it can be predictable, like therent, or...
a company might close a store for a day in order to clean it. While this closure may not cost the company money as it is recorded on a balance sheet, it does have animplicitcost: lost sales. As another example, a business may have...
Learn what explicit cost is. Explore explicit cost examples, how explicit cost affects businesses, and what the differences are between explicit and implicit cost. Related to this QuestionWhat are implicit costs? What is fee simple? What are conformity costs? What is money cost in economics? Wha...
When an action is chosen, the highest-valued alternative not chosen is called the: A. accounting cost. B. opportunity cost. C. implicit cost. D. explicit cost. Different Types of Costs in Economics: It is key in...
*Answer = A.Once a sunk cost isincurred,there is no way to recover the cost. Bibliography Baye, Michael. R. (2009).Managerial Economics and Business Strategy, 6th Edition.St. Louis: McGraw-Hill Irwin. Das, S. P. (2007).Microeconomics for Business.Thousand Oaks: Sage Publications Arnold,...
Motivated by these observations, this paper constructs a two period dynamic model of (explicitly) collusive price announcements, featuring a buyer who can (at a cost) increase competition in the procurements it conducts by qualifying a non-cooperative "outside" seller. In this setting, the paper...
Incorporation of such concerns into economic evaluation represents a major objective of extended cost-effectiveness analysis, which is explored and addressed specifically in chapter 13 in this volume (Chisholm, Johansson, and others 2015). ... C Levin,C Dan - Disease Control Priorities, Third Editio...
Profit for a Firm: The profit for a firm may be determined from the perspective of an accountant or economist. The costs are usually categorized into explicit costs and implicit costs to calculate the economic profit and accounting profit. ...
Philip Booth argues that lower exchange rates is not the solution for the problem of stimulating economic growth in the UK. It is real exchange rates that determine the cost of exports and imports relative to alternatives, and, since the UK can only control nominal rather than real exchange ra...
We consider $N$-person differential games involving linear systems affected by white noise, running cost quadratic in the control and in the displacement o... M Bardi - 《Networks & Heterogeneous Media》 被引量: 199发表: 2013年 DIFFERENTIAL GAMES. APPROXIMATION AND FORMAL MODELS Certain control ...