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Unformatted text preview: 2.2) Implicit cost is when a business experiences nonmonetary opportunity costs. An implicit cost is different from an explicit cost is when a business spends money. 2.5) a) fixed b) variable c) variable d) fixed e) fixed 2.7) The opportunity cost to Bennett for staying in Seattle is $82 million (the $63 million loss he takes by staying in Seattle + the $19 million profit he would earn if he could move to Oklahoma City)...
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This note was uploaded on 01/14/2012 for the course ECO 211 taught by Professor Morvey during the Fall '10 term at Piedmont TC.
- Fall '10