What are differences between differential and explicit cost

What are the differences between differential cost and explicit cost?

Comments & Conversion

Expert

Verified

Differential Cost:

This refers to the change in cost because of change in the level of activity or method of production or pattern of production.

Explicit Cost:

These costs are those costs that are really paid (or paid in cash.). all they are paid out costs.

Related Questions in Managerial Economics

Q : Marginal resource cost of labor By

By lying off three workers, total costs of a firm fall by $210 per day, indicating that the marginal: (w) revenue product of labor is $210. (x) revenue product of labor is $70. (y) resource cost of labor is $210. (z) resource cost of labor is $70.

Q : Decline in consumer demand A decline

A decline within consumer demand for a good tends to reduce demands for: (w) inferior goods. (x) alternative products. (y) resources producing the good. (z) union wage increases. Hey friends please give your opinio

Q : Explain managerial economics as a tool

Does managerial economics as a tool for decision making? Explain this term.

Q : Want exact answer answer written below

answer written below is correct for the question detail exception of demand curve ?

Q : Difference between economics and

What is the difference between economics and managerial Economic?

Q : Operational or internal issues of

What are the operational or internal issues of managerial economics?

Q : Define the difference between

Define the difference between accounting and economic cost.

Q : Maximizes profits of firm in a

Refer to below figure. What is the amount of profit when the firm generates Q2units: w) this is equal to the vertical distance c to g. x) this is equal to the vertical distance c to Q2. y) this is equal to the vertical distance g to Q2

Q : Costs of investing in human capital The

The costs of investing in human capital are probably to be borne through an employer when the human capital is: (1) general. (2) marginal. (3) precise. (4) generic. (5) specific. Can someone explain/help me with be

Q : Perfectly inelastic labor-supply This

This supply of labor of worker is perfectly inelastic at point: (w) point a. (x) point b. (y) point c. (z) point d.

Discover Q & A

Leading Solution Library

Avail More Than 1421151 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1938470
Asked

3,689

Active Tutors

1421151

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment