Discussion Post: Explicit & Implicit Costs
1) Differentiate between explicit and implicit costs.
2) Explain the importance of considering both types of costs to make economic decision.
3) Provide examples of at least 2 explicit costs and 2 implicit costs.
The response should include a reference list. Using double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.