Home » Classroom » SS2 Economics Distinction Between Economist’s And Accountant’s View of Cost Question

Why do economists include implicit costs in the... - SS2 Economics Distinction Between Economist’s And Accountant’s View of Cost Question

Why do economists include implicit costs in their view of cost?

Ask EduPadi AI for a Detailed Answer

Economists include implicit costs to account for the opportunity cost of a decision, which is the value of the next best alternative forgone. This helps economists make more accurate decisions by considering all costs associated with a decision.

Please share this, thanks:

#SS2 #SS2

Add your answer

Notice: Please post responsibly.

No responses