you own a small deli that sells sandwiches, salads, and soup to the community. which of the following is an implicit cost of the business?

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18-11-2022
Business

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you own a small deli that sells sandwiches, salads, and soup to the community. which of the following is an implicit cost of the business?

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Baraq Baraq · Answer 1 · 2022-11-23T13:06:56+01:00

Based on the principle of implicit cost, when you own a small deli that sells sandwiches, salads, and soup to the community. the implicit cost is considered to be "the job offer you did not accept at a local catering service."

What is the Implicit Cost

Implicit Cost is a term that is used to describe the implied cost, or the opportunity cost incurred or giving up in equal to start your own business.

Instead of getting a job that offers local catering service, you chose to create your business and start selling these similar chops to people.

Features of Implicit Cost

It is an implied cost
It does not involve spending money
It is shown or reported as a separate expense.
It is not obvious like explicit cost.

Hence, in this case, it is concluded that the correct answer is the job offer you did not accept at a local catering service.

Learn more about Implicit cost here: https://brainly.com/question/7824689

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