--%>
Assignment Help - homework help

What are differences between differential and explicit cost

What are the differences between differential cost and explicit cost?

E

Expert

Verified

Differential Cost:

This refers to the change in cost because of change in the level of activity or method of production or pattern of production.

Explicit Cost:

These costs are those costs that are really paid (or paid in cash.). all they are paid out costs.

   Related Questions in Managerial Economics

  • Q : Process of Signaling Job applicants

    Job applicants make use of polished resumes explaining education, work experience and skills, accompanied from supportive letters of recommendation letters like tools in a process economist’s call: (1) adverse selection. (2) signaling. (3) human

    		•
  • Q : Illustrates the Barometric technique of

    Illustrates the Barometric technique of Demand Forecasting?

    		•
  • Q : Wage payments by total production cost

    Wage payments like a proportion of total production cost are positively associated to the: (1) ease of substitution between capital and labor. (2) wage elasticity of demand for labor. (3) extent of automation in the industry. (4) human capital created

    		•
  • Q : States the term Demand Estimation

    States the term Demand Estimation.

    		•
  • Q : Trent projection statistical method of

    Explain the Trent projection statistical method of Demand Forecasting.

    		•
  • Q : Policy of Avoiding Legal Liability The

    The expected losses to workers through shirking are increased while a firm adopts a policy of: (w) dividing productive tasks thus the division of labor is optimal. (x) paying efficiency wages which exceed market-clearing wages. (y) avoiding legal liability by not writ

    		•
  • Q : Purely competitive equilibrium labor

    When this purely competitive labor market is firstly in equilibrium at D0L, S0L, an increase within the price of output will result into equilibrium being attained at: (w) D0L, S0L. (x) D1L, S1L. (y) D2L, S1L. (z) D1L, S0L.

    Q : Succeed and surviving of a cartels A

    A cartel is more likely to succeed and survive when: (w) members respond to incentives to cheat. (x) fringe producers are not members. (y) total market demand is less elastic. (z) close substitute goods are simply developed.

    Q : Average rate of return in Human Capital

    This illustrated graph indicates that, there on average, rate of return to education is greatest for finishing the previous year of: (1) kindergarten, at point a. (2) grade school, at point b. (3) high school, at point c. (4) undergraduate college, at

    		•
  • Q : Concept of marginal costing In what

    In what condition the concept of marginal costing basically applied?

    		•