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5. Penny is the owner-operator of a nail makeover shop. Last year, she earned a total venue amounting to 1.086 million pesos. She also paid
5. Penny is the owner-operator of a nail makeover shop. Last year, she earned a total venue amounting to 1.086 million pesos. She also paid 900,000 pesos to her employees and suppliers. During the course of the year, she received offers to work for other shops with the highest monthly salary offered being 15,000 pesos. a. What are Penny's explicit costs last year? (3 pts) b. What are Penny's implicit costs last year? (3 pts) c. What are Penny's accounting profits last year? (3 pts) d. What are Penny's economic profits last year? (3 pts)
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