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Anonymous
🌐 Maharashtra
It ideally should be Social cost as Implicit Cost does include money. It is the income which we could have earned. Also called an opportunity Cost.
Explicit cost is the actual cost incurred & Real cost is the cost incurred for producting all goods & services.
Hence social cost is the right answer.
Explicit cost is the actual cost incurred & Real cost is the cost incurred for producting all goods & services.
Hence social cost is the right answer.
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