Distinguish between explicit amp implicit costs giving, Ask an Expert

Economics

1. What is the law of diminishing returns? Give discriptive example?

2. Distinguish between explicit & implicit costs, giving example of each.

3. What are the explicit & implicit costs of attending college?? Why does the economist classify normal profit as a cost?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9293327

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