Which of the following is false? a. Explicit costs are input costs that require a monetary payment.
Question:
Which of the following is false?
a. Explicit costs are input costs that require a monetary payment.
b. Implicit costs do not represent an explicit outlay of money.
c. Both implicit and explicit costs are opportunity costs.
d. Sunk costs are irrelevant for any future action.
e. All of the above are true.
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