Question: what is the distinction between implicit and explicit costs? Consider an initiative at work that your company is considering doing, such as a new product,

what is the distinction between implicit and explicit costs? Consider an initiative at work that your company is considering doing, such as a new product, adding more employees, etc.Include all implicit and explicit costs of this venture. In addition, analyze the value of this project and how the costs will be in the short run and the long run

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