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Author Question: Explicit and Implicit CostsTed works 72 hours a week at his store, Ted's Vintage Threads, a used ... (Read 367 times)

sbegs

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on: Nov 23, 2022
Explicit and Implicit Costs

Ted works 72 hours a week at his store, Ted's Vintage Threads, a used clothing store in Key West, Florida. The table lists his annual costs and revenue.
Wages Paid$97,000​
Interest Paid on Loans$19,000​
Other Expenditures for Factors of Production$55,000​
Total Revenue$285,000​
He owns the building that houses his business, and if he closed the store, he could rent out the building for $106,000 a year and go to work for his cross-town rival, Cassie's Classic Couture, and earn a salary of $34,000 a year. What are Ted's explicit costs? Implicit costs?
◦ -$26,000, $114,000
◦ $140,000, $171,000
◦ $114,000, -$26,000
◦ $171,000, $140,000
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by sbegs on Nov 23, 2022

viper01

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Reply #1 on: Nov 23, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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sbegs

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Reply 2 on: Nov 23, 2022
Thanks for the timely response, appreciate it

Joy Chen

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Reply 3 on: Yesterday
Wow, this really help

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