Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the location and buy the stock. In addition, she would have to quit her $50,000 per year job as an accountant. Your aunt’s opportunity costs comprise * the accounting costs. the accounting costs and the implicit costs. all economic costs. none of the above Referring to the problem above: The implicit cost/s that your aunt can incur is/are: * foregone rental value, foregone interest income, foregone wages. foregone rental value and foregone wages foregone interest income and foregone wages foregone wages
Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the location and buy the stock. In addition, she would have to quit her $50,000 per year job as an accountant. Your aunt’s opportunity costs comprise * the accounting costs. the accounting costs and the implicit costs. all economic costs. none of the above Referring to the problem above: The implicit cost/s that your aunt can incur is/are: * foregone rental value, foregone interest income, foregone wages. foregone rental value and foregone wages foregone interest income and foregone wages foregone wages
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter7: Proudction Costs
Section: Chapter Questions
Problem 1SQP
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Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the location and buy the stock. In addition, she would have to quit her $50,000 per year job as an accountant. Your aunt’s
the accounting costs.
the accounting costs and the implicit costs.
all economic costs.
none of the above
Referring to the problem above: The implicit cost/s that your aunt can incur is/are: *
foregone rental value, foregone interest income, foregone wages.
foregone rental value and foregone wages
foregone interest income and foregone wages
foregone wages.
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