Dustin is planning to open a catering business. Indicate if each of the following examples represent an explicit cost or an implicit cost that his new catering business might incur.

The wages Dustin pays his employees is an

$($Click to select$)$

The interest Dustin could have earned on the savings he used to invest in starting his business is an

$($Click to select$)$

The kitchen space he rents to prep meals is an

$($Click to select$)$

The monthly ad in a local magazine is an

$($Click to select$)$

The uncompensated time Dustin spends keeping the books for his new business is an

$($Click to select$)$