casey recently inherited $100,000 from her grandma rather than invest the money in a mututral fund that earns 5% she quit her job of translator which paid $60,000 and started casey's coffee crush which is recently cost $20,000 for this year. the equipments and machines cost $60,000. staffs help and advertising cost another $ 40,000 in her first year her revenue was $150,000 what is the implicit opportunity cost of casey's coffee crush?
casey recently inherited $100,000 from her grandma rather than invest the money in a mututral fund that earns 5% she quit her job of translator which paid $60,000 and started casey's coffee crush which is recently cost $20,000 for this year. the equipments and machines cost $60,000. staffs help and advertising cost another $ 40,000 in her first year her revenue was $150,000 what is the implicit opportunity cost of casey's coffee crush?
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 8SQP
Related questions
Question
casey recently inherited $100,000 from her grandma rather than invest the money in a mututral fund that earns 5% she quit her job of translator which paid $60,000 and started casey's coffee crush which is recently cost $20,000 for this year. the equipments and machines cost $60,000. staffs help and advertising cost another $ 40,000 in her first year her revenue was $150,000 what is the implicit
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics: Applications, Strategies an…
Economics
ISBN:
9781305506381
Author:
James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:
Cengage Learning
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax