The Basic Difference Between Explicit and Implicit Costs Is That

Multiple Choice

The basic difference between explicit and implicit costs is that

A) explicit costs are measurable; implicit costs are not.
B) implicit costs are measurable; explicit costs are not.
C) explicit costs are private costs; implicit costs are social costs.
D) explicit costs are fixed costs; implicit costs are variable costs.
E) explicit costs reflect externally supplied resources; implicit costs reflect owner-supplied resources.