X DZL Assignment: Production and C X DZL Grades - 22FA PRINCIPLES OF ning.suny.edu/d21/le/content/88958/viewContent/12246271/View signment: Production and Costs Assignment: Production and Costs Score: 19/40 20/37 answered Question 7 Previous Lorenzo has decided to start their own photography studio. To purchase the necessary equipment, Lorenzo withdrew $9000 from their savings account, which was earning 2% interest, and borrowed an additional $10000 from the bank at an interest rate of 10%. 1. What are explicit costs in this scenario? 2. What are implicit costs in this scenarion? 3. What is Lorenzo's annual opportunity cost of the financial capital that has been invested in the business? Array Submit Question esc :9 30 E3 G F6 FB @ # 2 3 4 5 6 Q W E R T Y U