When determining relevant cash flows for making an investment decision, these include explicit and implicit costs. For example, in deciding whether to attend college an ___________ cost is the cost of tuition and an ____________ cost is the opportunity cost of your time and foregone wages. For a student who recently finished community college, and is considering enrolling at Mizzou, her expense to attend junior college ___________ relevant when making the decision to attend Mizzou versus work a full-time job.

implicit; explicit; is

implicit; explicit; is not

explicit; implicit; is not

explicit; explicit; is