Question: Subject: Economics What is the difference between: Present Value and Future Value Implicit Cost and Explicit Cost Economic profit and Accounting Profit Marginal Cost and

Subject: Economics

What is the difference between:

  1. Present Value and Future Value
  2. Implicit Cost and Explicit Cost
  3. Economic profit and Accounting Profit
  4. Marginal Cost and Marginal Cost
  5. Incremental Cost and Incremental Revenue

Can you briefly explain in your own words?

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