What is the principle distinction between explicit costs and implicit? Costs?

A. Explicit costs are? Direct, out-of-pocket? Payments, while implicit costs are all foregone opportunity costs.

B. There is no real difference between explicit and implicit costs.

C. Implicit costs must be paid? Immediately, but explicit costs need to be paid only in the long run.

D. Implicit costs are usually larger than explicit costs.

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Explicit costs are d... View the full answer