Would the wages paid to workers be an implicit cost?

1 answer

Answer

1292228

2026-04-01 13:00

+ Follow

No, the wages paid to workers are considered explicit costs, not implicit costs. Explicit costs are direct, out-of-pocket expenses that a business incurs, such as salaries and wages. Implicit costs, on the other hand, represent the opportunity costs of using resources owned by the business, like the owner’s time or capital that could have been invested elsewhere.

ReportLike(0ShareFavorite

Copyright © 2026 eLLeNow.com All Rights Reserved.