Costs that are included in the economic concept of cost but that are NOT explicit costs are:

A) outlay costs.
B) accounting profits.
C) implicit costs.
D) economic profits.

Implicit Costs

The opportunity costs that are not directly paid for or visibly incurred in financial transactions but represent real costs to economic actors.

Economic Costs

Economic costs include both the explicit costs of production, such as raw materials and wages, and implicit costs, such as opportunity costs.

Explicit Costs

Direct, out-of-pocket payments for resources employed in the production of goods or services.