According to economic theory an explicit cost is O a monetar

According to economic theory, an explicit cost is: O a monetary payment made for inputs not owned by the firm itself O excluded when accounting profits are determined. 0 an implicit cost to the resource owner who receives that payment. O always in excess of a resource\'s opportunity cost. O Type here to search [D ?

Solution

Ans is A

Explicit cost is the cost of the inputs which are purchased from outside/market.

Explicit cost is the monetary payment made to factor of production which are not owned by firm.