Exam (elaborations)
ECON528 Module 2: Homework_Assignment (WITH 100% VERIFIED ANSWERS)
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Golda Rush quit her job as a manager for Home Depot to start her own hair dressing salon, Goldilocks. She gave up a salary of $40,000 per year, invested her savings of $30,000 (which was earning 5 percent interest) and borrowed $10,000 from a close friend, agreeing to pay 5 percent interest per year. In her first year, Golda spent $18,000 to rent a salon, hired a part-time assistant for $12,000 and incurred another $15,000 on equipment and hairdressing material. Based on this information, what is the amount of her implicit costs? Select one: a. $70,000 b. $41,500 c. $42,000 d. $80,000 ANSWER: b
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Institution
University Of Louisiana At Lafayette
Course
ECON 528 (ECON528)
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Document information
- Uploaded on
- June 18, 2021
- Number of pages
- 19
- Written in
- 2020/2021
- Type
- Exam (elaborations)
- Contains
- Questions & answers
Subjects
- implicit costs
- accounting costs
- variable cost
- fixed cost
- cost per unit
-
variable cost of production
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