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What are types of opportunity costs

User Fawaz
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Answer:

  1. Explicit Cost
  2. Implicit Cost

Explicit Cost: This opportunity cost involves money payment (and sometimes a market transaction).

Implicit Cost: This opportunity cost DOES NOT involves money payment or a market transaction.

Step-by-step explanation:

User Mjhasbach
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Answer:

This distinction gives rise to two types of opportunity cost--explicit and implicit.

1:Explicit Cost: This is an opportunity cost that involves a money payment and usually a market transaction. ...

2:Implicit Cost: This is an opportunity cost that DOES NOT involve a money payment or market transaction.

User Leyna
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