Explain the Difference Between an Implicit Cost and an Explicit

question 150

Essay

Explain the difference between an implicit cost and an explicit cost,and how both costs relate to economic and accounting profits.

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Definitions:

Clinically "Normal" Behavior

Behavior that is considered to be within the range of normal functioning according to clinical standards or psychological norms.

Extreme Guilt

A profound feeling of remorse or responsibility for having done something wrong or harmful, often beyond what would be considered reasonable.

Sexual Well-Being

A state of physical, emotional, mental, and social well-being in relation to sexuality; not merely the absence of disease.