English

Define implicit cost.

Definition

Implicit cost refers to the imputed (estimated) value of inputs owned by the firm and used by it in its own production unit.

shaalaa.com

Is there an error in this question or solution?

Chapter 8: Cost Theory Analysis - EXAMINATION CORNER [Page 8.25]

Chapter 8 Cost Theory Analysis
EXAMINATION CORNER | Q 2. (i) | Page 8.25

Chapter 8 Cost Theory Analysis
EXAMINATION CORNER | Q 32. (i) | Page 8.27

Chapter 8 Cost and Revenue Analysis
TEST YOURSELF QUESTIONS | Q 3. (i) | Page 171

Notifications

Course