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An Asian manufacturer of running shoes pays its workers $275 to make 100 pairs an hour. Workers use company owned equipment that costs $300 in
An Asian manufacturer of running shoes pays its workers $275 to make 100 pairs an hour. Workers use company owned equipment that costs $300 in forgone interest and economic depreciation. Materials cost $900. Source: washpost.com Which costs are explicit costs? Which costs are implicit costs? With total revenue from the sale of 100 pairs of shoes of $1,650, calculate economic profit The costs that are explicit costs are The costs that are implicit costs are O A. wages, materials, and forgone interest: coonomic depreciation O B. forgone interest and economic depreciation: wages and materials MC. wages and materials; forgone interest and economic depreciation O D. wages and forgone interest; materials and economic depreciation If the total revenue from the sale of 100 pairs of shoes is $1,650, the manufacturer's economic profit is $ 175
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