Mika borrows $100,000 to open up her own beauty shop. She pays 5 percent interest on her loan. In order to account for all costs of her business, Mika must not forget:
A) the implicit cost of $100,000.
B) the implicit cost of $5,000.
C) the explicit cost of $105,000.
D) the explicit cost of $5,000.
Correct Answer:
Verified
Q52: Davy's Doggie Daycare rents a warehouse and
Q53: Costs that require a firm to spend
Q54: Explicit costs are costs that:
A)require a firm
Q55: If a firm decreases production, its:
A)variable costs
Q56: Mariana needs $20,000 to start up her
Q58: Implicit costs are costs that:
A)require a firm
Q59: Explicit costs can include:
A)out-of-pocket costs.
B)fixed costs.
C)variable costs.
D)All
Q60: Mika withdraws $100,000 from her trust fund
Q61: Suppose Winston's annual salary as an accountant
Q62: Imagine Tom's annual salary as an assistant
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