One example of implicit cost is: - SchoolNGR

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One example of implicit cost is:

One example of implicit cost is:

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Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE

A Payment of workers wages
B Purchase of raw materials
C Payment of electricity bills
D Owner using personal building

Correct Answer: Option D

Explanation:
Using personal property for business without paying rent creates an implicit cost because rental income is sacrificed.

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