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Technical Problems: 1. For each one of the costs below, explain whether the resource cost is explicit or implicit, and give the annual opportunity cost
Technical Problems:
1. For each one of the costs below, explain whether the resource cost is explicit or implicit, and give the annual opportunity cost for each one. Assume the owner of the business can invest money and earn 10 percent annually.
c. A building for the business was purchased for $18 million three years ago but is now worth $30 million.
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