Quiz '2. efin ion of economic costs Jacques lives in Philadelphia and operates a small company sell ing drones. On average, he receives $833,000 per year from selling drones. Out ofj L revenue from sales, he must pay the manufacturer a wholesale cost of $464,000. He also pays several utility companies, as well as his employees wages totaling $278,000. He owns the building that houses his storefront; if he choose to rent it out, he would receive a yearly amount of $68,000 in' rent. Assume there is no depreciation in the value of his property over the yeai: Further, if Jacques does not operate the drone business, he can work as a pmgmmmerand earn a yearly salary of $34,000 with no additional monetary costs, and rent out his storefront at the $68,000 per year rate. There are no other costs faced by Jacques in running this drone company, Identify each of Jacques's Costs in the folluwlng table as either an implirit cost or an explicit cost ofseiling drones. , le rental income Jacques could receive if he chose to rent out his showroom 111a wages that Jacques pays