Question: Why is it important to differentiate between explicit and implicit cost? 1 Mark Classify the following costs as explicit or implicit.Explain your answer Nike spent

  1. Why is it important to differentiate between explicit and implicit cost?1 Mark
  2. Classify the following costs as explicit or implicit.Explain your answer
  • Nike spent 1 billion on advertising expenditure
  • Jims Transport spent 5000 of fuel
  • BHP paid interest on company issued bonds
  • Rio Tinto spent 200 million on executive salaries.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

Why is it important to differentiate between explicit and implicit cost? Classify the following costs as explicit or implicit.Explain your answer Nike spent 1 billion on advertising expenditure Jims...

Q:

Why is it important to differentiate between explicit and implicit cost? Classify the following costs as explicit or implicit.Explain your answer Nike spent 1 billion on advertising expenditure Jims...

Q:

QUESTION 1 Why is it important to differentiate between explicit and implicit cost? 1 Mark What is the significance of the long run? 1 Mark Classify the following costs as explicit or implicit....

Q:

Economics Principle's Practice Quiz Part 2. QUESTION 1 3. Why is it important to differentiate between explicit and implicit cost? b, Why is it important to differentiate between the short and long...

Q:

QUESTION 1 Explain the importance of explicit and implicit cost. 1.5 Marks Why is it important to differentiate between the short-run and long run? 1.5 Marks Classify the following costs as explicit...

Q:

Explain the importance of explicit and implicit cost when calculating profit/loss. Classify the following costs as explicit or implicit. Explain your answer The Global Transport Corporation spent 1...

Q:

To answer these questions, you will need to read Chapter 9, Market Equilibrium & Product Price - Imperfect Competition and please good Good format. #. Explain the 3 types of "Imperfect" market...

Q:

Discussion Board 4 Production Economics and Decisions...

Q:

Attached is Accounting assignment along side recommended readings to answer certain questions. Thank you Assignment 1 Problem 1 15 points Reading - W. L. Ferrara, Cost/Management Accounting: The 21st...

Q:

Task 2 (10 points). Note: In this question you should assume that the activation function of a perceptron is the step function. More specifically, this function: outputs 0 if the weighted sum of...

Q:

Solve sin (tan-x), x

Q:

Four identical point charges are fixed at the same distance from point P. "lbe charges are either +Q or -Q. Each action described is made to the situation shown in the diagram (i.e.. "Change sign of...

Q:

Russell's has a fixed asset turnover of 3 . 1 . How do you interpret this information? Russellik requires $ 3 . 1 0 in long - term assets for every dollar of sales generated. Russell's generates $ 3...

Q:

In the DNA structure, a purine molecule always binds with a pyrimidine molecule. How would you expect the structure to differ if Adenine forms base-pairing with Guanine and cytosine forms base...

Q:

Write a program to wish happy birthday to a student. Firstly, take today month and day as an input and secondly take birthday as an input in the form of month and day. If the input day and month...

Q:

1. To provide knowledge about various influencing techniques in communication situations.

Q:

1. Information that is currently accessible (recognition).

Q:

8. Based on the model in Fig. 10.2 in this chapter, analyse yourself and find out which cell you would place yourself in. Let another person in the group analyse you. Did he/she choose the same cell...