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Think of a company and its industry, and give an example of an implicit cost for that company. With the implicit cost identified, explain why,
- Think of a company and its industry, and give an example of an implicit cost for that company.
- With the implicit cost identified, explain why, or why not, the cost needs to be considered.
- Are there any benefits to the cost identified? Are there any disadvantages? Describe.
- What might additional costs need to be considered?
- Suggest reasons why the example of an implicit cost would not have to be considered.
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