--%>

What are differences between differential and explicit cost

What are the differences between differential cost and explicit cost?

E

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 : Labor demand increases and supply

    Wages tend to increase while labor demand: (w) and supply both decrease. (x) decreases and supply increases. (y) and supply both raise. (z) increases and supply decreases. Please choose the right answer from above.

  • Q : Illustrates the major objectives of

    Illustrates the major objectives of demand analysis?

  • Q : What are the reasons for adopting

    What are the reasons for adopting penetration price strategy?

  • Q : Tax when price elasticity of

    When the ratio of the price elasticity of demand of a taxed good associate to its price elasticity of supply increases, tax is: (w) revenue will fall when tax rates are raised. (x) hikes will cause buyer's total outla

  • Q : Find equality of Net economic

    Net economic investment plus depreciation equivalents: (a) the capital output ratio. (b) gross economic investment. (c) gross domestic product. (d) the capital stock. Hello guys I want your advice. Please recommend

  • Q : Surpluses quantity for Supply and Demand

    When an exceptionally warm winter caused the quantity of cashmere sweaters supplied to exceed the quantity demanded at the present market price, in that case: (1) cashmere sweaters will be more heavily demanded subsequent year than this year. (2) an overload of cashme

  • Q : Illustrates the economies of scale are

    Illustrates the economies of scale are categorization?

  • Q : Define the difference between

    Define the difference between accounting and economic cost.

  • Q : Explain the infinitely elastic demand

    Explain the infinitely elastic demand.

  • Q : Statements about Human Capital Which of

    Which of the given statements is not CORRECT: (w) Acquiring productive skills is known as investment in human capital. (x) General training increases a worker’s marginal productivity equally for many firms. (y) Specific training increases the productivity of the