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Regardless of whether you use method A or method B for burping the infant,which of the following remains the same for both methods?
Implicit Costs
Non-direct payments or out-of-pocket costs, representing the opportunity costs of using resources owned by the firm for its own use.
Explicit Costs
Payments made directly to individuals or entities for business operations, including salaries, leasing costs, and supplies.
Implicit Costs
The opportunity costs of using resources that a firm already owns, rather than the expenses directly paid out.
Explicit Costs
Direct, out-of-pocket expenses incurred by a firm or individual for business operations or activities.
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