A person starts her own business after quitting her job in, Ask an Expert

Economics

A person starts her own business after quitting her job in which she made $75,000 a year. Expenses include $100,000 for wages and salaries, $15,000 for utilities, $150,000 for materials and supplies, and $5000 for gasoline. She uses her car in her work, for which she paid $16,000 two years earlier. She could rent a similar car for $5000. Implicit costs are

a. $80,000.

b. $91,000.

c. $75,000.

d. $5,000.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91848366

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