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Barney decides to quit his job as a corporate accountant, which pays $12,000 a month, and goes into business for himself as a certified public
Barney decides to quit his job as a corporate accountant, which pays $12,000 a month, and goes into business for himself as a certified public accountant He runs his business from his converted garage apartment, which he could rent out for $325 a month if he wasn't using it as a home office. He must purchase office supplies worth $80 a month, and his monthly electricity bill has increased by $60 now that he is working out of his home office. After six months of working from home, Barney has earned an average of $15,000 per month. Instructions: Enter your answers as a whole number. a. What are Barney's monthly explicit costs? 5 b. What are Barney's monthly implicit costs? S What are Barney's monthly economic costs? S
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