what is the Explicit and Implicit cost? find the accounting profit and the economic profit Suppose that you worked for a company that sells cellphone cases, earning $40,000. Then, you decided to start your own company called Just in Case. The startup requires a capital investment, an amount you pay from your savings that carned an interest income of $5,000. You rent space for $15,000 and hire staff for $25,000. The production of cases cost S$40,000 in labor, materials, and utilities. Finally, you can total revenues of $150,000 from sales.
what is the Explicit and Implicit cost? find the accounting profit and the economic profit Suppose that you worked for a company that sells cellphone cases, earning $40,000. Then, you decided to start your own company called Just in Case. The startup requires a capital investment, an amount you pay from your savings that carned an interest income of $5,000. You rent space for $15,000 and hire staff for $25,000. The production of cases cost S$40,000 in labor, materials, and utilities. Finally, you can total revenues of $150,000 from sales.
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Chapter7: Proudction Costs
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Transcribed Image Text:what is the Explicit and Implicit cost? find the accounting profit and the economic profit
Suppose that
Then, you decided to start your own company called Just in Case.
The startup requires a capital investment, an amount you pay from your savings that carned an
interest income of $5,000.
You rent space for $15,000 and hire staff for $25,000.
The production of cases cost $40,000 in labor, materials, and utilities.
Finally, you cam total revenues of $150,000 from sales.
you
worked for a company that sells cellphone cases, carning $40,000.
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