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Explicit or implicit cost?

Exercise and reference answers

Left
Explicit
Items
  1. Item
    Wages paid out
    Answer
    Explicit
  2. Item
    Rent handed over
    Answer
    Explicit
  3. Item
    An actual payment
    Answer
    Explicit
  4. Item
    Forgone salary
    Answer
    Implicit
  5. Item
    No money changes
    Answer
    Implicit
  6. Item
    Subtle but real
    Answer
    Implicit
Right
Implicit
Instructions
Swipe left for Explicit, right for Implicit.

Explanation

_Source: OpenStax Principles of Microeconomics for AP(R) Courses 2e (CC BY 4.0), Ch 7 'Production, Costs and Industry Structure', sections 7.1-7.4_
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