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
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.