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Explicit and Implicit cost
Subject
Economics
Question Description
Read the article from the following link and then comment on the two questions below.
http://money.cnn.com/2017/01/09/pf/cost-of-raising-a-child-2015/index.html
What is an example of an implicit and an explicit cost of raising children?
In estimating the housing cost of raising a child, should a child be assigned the same share of housing costs as any other member of the household (average total cost) or simply the cost of an extra bedroom (marginal cost)
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