It takes your body around 1 hour to process 1 Unit of Alcohol, so that's about half a pint of beer or one 25 ml shot or 2/3 of a 125 ml glass of wine. That number is for people with a healthy liver.
The following are the major differences between explicit cost and implicit cost. 1  Explicit Cost is incurred when the entity has to pay for the utilisation of factors of production. Implicit Cost is the opportunity cost, which is incurred when the entity uses the ownerâs resources like capital inventory etc.
And the Federal Reserve Board lowers interest rates to 4.0%. Your implicit costs are now $20,000 + $8,000 + $2,000 = $30,000. Your accounting profit of $35,000 is now equivalent to an economic profit of $5,000.Congratulations! You are in the right business.our implicit costs are now $20,000 + $8,000 + $2,000 = $30,000. Your accounting profit of $35,000 is now equivalent to an economic profit of $5,000. Congratulations! You are in the right business.