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Advanced Placement (AP)Advanced Placement (AP)
17 July, 12:03

Implicit cost refers to

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  1. 17 July, 15:25
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    Input costs that do not require an outlay of money by the firm
  2. 17 July, 15:50
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    Implicit cost is a term in economics that refers to the costs of an enterprise that do not require direct expenditure but, instead, result from a loss in potential revenue.
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