Economics 1st Edition by Dean Karlan,Jonathan Morduch

Exercise 31

Keri owns a landscaping business. For each of Keri's inputs given in the list below, indicate whether the associated cost is fixed or variable, explicit or implicit, and whether the cost affects accounting profit only, economic profit only, or both.
a. Landscapers.
b. Plants taken from her home garden.
c. Truck rental.
d. Owned lawn mowers.