About Alicia Keys. Alicia Keys can be described as a modern-day Renaissance woman. A 12-time Grammy Award-winning singer/songwriter/producer, Keys is also an accomplished actress, a New York Times best-selling author, an entrepreneur and a powerful force in the world of philanthropy and in the global fight against HIV and AIDS.
Implicit costs can also be thought of as intangible costs that are not easily accounted for. For example, the time and effort that an owner puts into the maintenance of the company, rather than working on expansion, can be viewed as an implicit cost of running the business.
All of the above answers are correct. ____ 2. When an economist uses the term cost referring to a firm, the economist refers to the. a. price of the good to the consumer. b. explicit cost of producing a good or service. c. implicit cost of producing a good or service. d. opportunity cost of producing a good or service, which includes both implicit and explicit.