Final answer:
Explicit and implicit costs are both types of opportunity costs. Explicit costs refer to direct outlays, such as wages and rent, while implicit costs represent the value of resources owned and used in production. Sunk costs, however, are not considered opportunity costs. option a and b are answer
Step-by-step explanation:
When considering valid statements about opportunity costs, we focus on two main types: explicit costs and implicit costs. Explicit costs are the out-of-pocket expenditures that a business pays, like wages or rent. Implicit costs, on the other hand, are not direct outlays of cash but represent the cost of using resources the firm already owns or foregone opportunities, such as an owner's time or use of space that could have been rented out.
Sunk costs are past costs that cannot be recovered and should not affect current economic decisions, thereby they do not represent opportunity costs. Opportunity costs are about the benefits foregone from not choosing the next best alternative. Finally, marginal costs are about the additional costs of producing one more unit of a product, which is related to but not the same as opportunity cost. option a and b are answer