You own a small deli that sells sandwiches,salads,and soup.Which factor is an implicit cost of the business?

A) wages paid to part-time employees
B) the job offer you did not accept at a local catering service
C) bread,meat,and vegetables used to produce the items on your menu
D) your monthly utility bill

Implicit Cost

The opportunity cost equal to what a firm must give up or forgo in order to use resources in its own operations, not directly paid in money.

Part-Time Employees

Part-time employees are workers who are employed for fewer hours than the standard full-time work schedule, often without the same benefits as full-time employees.

Utility Bill

A monthly fee paid for services such as electricity, water, and gas consumption.