© @ Pps://www.slideshare.net [5) © @ Q SlideShare Explore Search @ Share CB} Implicit Cost imputed cost, implied cost, or notional cost the opportunity cost equal to what a firm must give up in order to use factor of production which it already owns and thus does not pay rent for. any cost that results from using an asset instead of renting it out or selling it. 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. Explicit and Implicit costs