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.
Video: Implicit Costs: Definition & Examples. Not all of the costs a business must consider can be calculated and tracked on a monthly basis. This lesson introduces the concept of implicit costs, including examples and how they differ from explicit costs.