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6. For each of the following identify the explicit andfor implicit cost. . You pay your gardener, Marco, $60 a month to mow your lawn.
6. For each of the following identify the explicit andfor implicit cost. . You pay your gardener, Marco, $60 a month to mow your lawn. - Jill moves her office from an office building in Main Street (which she rented for $900) to her large new home in Danyille. (Hint: there is an explicit cost and an implicit cost) - The meat packers union has successfully negotiated a 5 percent wage increase for its members. - Clara invests her $20,000 savings (for which she received 6 percent interest per year) into her new interior design business. . Gary is a mechanic who owns his own garage. He says he can put in new transmission in your car for $450. (Hint: Is the $450 an explicit cost, an implicit cost, or both? Has he included a value for his time?)
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