Implicit Costs Much of economics is focused on defining costs and distinguishing between implicit and explicit costs. Considering this please respond to the following: • Think of a company, and its industry, and give an example of an implicit cost for that company. • With the implicit cost identified explain why, or why not, the cost needs to be considered. • Are there any benefits to the cost identified? Are there any disadvantages? Explain. • If necessary, complete additional research to support your ideas on this topic. Please be sure to validate your opinions and ideas with citations and references in APA format.