During the synthesis stage of the cell cycle, a cell makes (replicates its own) DNA.
Economic profits equals total revenues minus the sum of explicit costs and implicit costs. Since explicit costs are already subtracted when arriving at the accounting profit, we can find economic profit by subtracting the implicit costs from the accounting profit.
1 Implicit Cost is the opportunity cost, which is incurred when the entity uses the ownerâs resources like capital inventory etc. 2  Explicit Cost is also known as out-of-pocket cost while Implicit costs are known as imputed cost.