The opportunity cost of an activity. Implicit costs are what a company or individual could have earned had a different decision been made. For example, suppose an independent consultant has two clients and she spends some time working on the first client's project.
November 23, 1992. Bobby Russell, 52, who wrote such song hits as Little Green Apples, Honey and The Night the Lights Went Out in Georgia.. Little Green Apples, recorded by Roger Miller, O.C. Smith and Patti Page, won Grammy awards in 1968 for song of the year and best country song. That same year, Honey, recorded by Bobby Goldsboro, was voted song of the year by the Country Music Assn.
Patti Smith released a cover of the song as the A-side of her first single, Hey Joe b/w  Piss Factory , in 1974. The arrangement of Smith's version is based on a recording by blues guitarist Roy Buchanan that was released the previous year (and dedicated to Hendrix).ey Joe was the last song Jimi Hendrix performed at the Woodstock festival in 1969 and as such, it was also the final song of the whole festival. The song was performed after the crowd, comprising the 80,000 who hadn't yet left the festival, cheered for an encore.