an enterer who managerhis firms has to forgo his salary,which he could have earned if he had worked elsewhere .the forgone isknwn as ?
1)implicit cost
2)explicit cost
3)hiden cost
4)actual cost
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Economics doubt
Replies (2)
1) Implicit Cost or Say Opportunity Cost
even i cant understand wat is the question can u pls explain me hw it is implicit cost?
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