RRB Group D 16 Sep 2022 Shift 3 Solved Paper

Question : 74 of 100

Marks: +1, -0

What is explicit cost?

It is the only cost necessary to calculate a profit, as it clearly affects a company's profits.
It is a direct payment made to others in the course of running a business, such as wage, rent and materials.
It represents the loss of profit but does not represent a loss of income.
Opportunity cost is the amount that a firm must give up to use a factor of production.

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