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Japanese companies are less inclined to use this approach for selecting advertising agencies:
Implicit Costs
Costs that are not directly paid out or incurred in money but represent the opportunity cost of using resources owned by the firm for its own production instead of renting them out or selling.
Explicit Costs
Direct, out-of-pocket payments made by a business for resources and services used in production.
Incremental Cost
The additional cost associated with producing one more unit of a product or service.
Marginal Cost
The increase or decrease in the total cost of a product when the production volume is increased by one unit.
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