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Youownandaretheonlyemployeeofacompanythatwritescomputersoftwarethat gamblersusetocollectsportsdata.Lastyearyourtotalrevenuewas$90,000.Yourcostsforequipment, rent,andsupplieswere$50,000.Tostartthisbusinessyouinvestedanamountofyourowncapitalthat could pay you a $40,000 a yearreturn. Refer to Scenario 1. During the year, your implicit costs were: $40,000. B) $50,000. C)
Youownandaretheonlyemployeeofacompanythatwritescomputersoftwarethat gamblersusetocollectsportsdata.Lastyearyourtotalrevenuewas$90,000.Yourcostsforequipment, rent,andsupplieswere$50,000.Tostartthisbusinessyouinvestedanamountofyourowncapitalthat could pay you a $40,000 a yearreturn.
- Refer to Scenario 1. During the year, your implicit costs were:
- $40,000. B) $50,000. C) $60,000. D) $90,000. E) $100,000.
- Refer to Scenario 1. During the year, your explicit costs were:
- $40,000. B) $50,000 C) $60,000. D) $90,000. E) $100,000
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