ECO 365T Wk 5 Discussion - Businesses and the Costs of Production

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ECO 365T Wk 5 Discussion - Businesses and the Costs of Production

Post a total of 3 substantive responses over 2 separate days for full participation. This includes your initial post and 2 replies to classmates or your faculty member. 

Due Day 3 

Respond to the following in a minimum of 175 words: 

• Differentiate between explicit and implicit costs. 
• Explain the importance of considering both types of costs to make economic decision.
• Provide examples of at least 2 explicit costs and 2 implicit costs. 

Due Day 7 

Post 2 replies to classmates or your faculty member. Be constructive and professional.