that a firm's total weekly costs are as follows: 1. Salaries of hired workers $5,000. 2. Supplies $1,000. 3. Rent = $600, 4. The owners have investeda certain amount of their own money into the business. This could have earned them interest of $200 per week if they had chosen to put it into a bank instead of investing it into their business. 5. The value of the owner's time is estimated to be $800 per week. What are the firm's total economic costs? O $6.000 O $7.600. O $900. C7600

that a firm's total weekly costs are as follows: 1. Salaries of hired workers $5,000. 2. Supplies $1,000. 3. Rent = $600, 4. The owners have investeda certain amount of their own money into the business. This could have earned them interest of $200 per week if they had chosen to put it into a bank instead of investing it into their business. 5. The value of the owner's time is estimated to be $800 per week. What are the firm's total economic costs? O $6.000 O $7.600. O $900. C7600

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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