When you stand in line for 20 minutes to buy groceries the v

When you stand in line for 20 minutes to buy groceries, the value of that time is:

an implicit cost.

an explicit cost.

worthless.

Solution

Solution: Implicit cost

Explanation: Explicit costs are the costs that require an outlay of money by the firm. On contrary, implicit costs is an opportunity costs and it do not involve any monetary transactions.