Mika borrows $100,000 to start 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
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