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East Tennessee State University: Explicit and Implicit Costs

Curated by ACT

This resource provides a good example of the differences between explicit costs and implicit costs using the ownership of a pizza restaurant as an example.

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Concepts
opportunity cost
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Additional Tags
accounting cost, economic profit, explicit cost, implicit cost, east tennessee state university: explicit and implicit costs, explicit costs
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Classroom Considerations
  • Knovation Readability Score: 3 (1 low difficulty, 5 high difficulty)
  • This resource is only available on an unencrypted HTTP website.It should be fine for general use, but don’t use it to share any personally identifiable information