Which of the following illustrates explicit and implicit costs? O A. Ned pays an hourly wage of $18 to his employees. Ned runs a hair salon out of the first floor of his house. OB. The government has regulated a minimum wage rate for all fast food employees. A pound of apples costs $8. O C. Ned uses his own laptop at work. Apartment rents have risen in the city of Denver. O D. Rachel buys her groceries from WinCo as it is much cheaper. Jake bought a HDTV.

Which of the following illustrates explicit and implicit costs? O A. Ned pays an hourly wage of $18 to his employees. Ned runs a hair salon out of the first floor of his house. OB. The government has regulated a minimum wage rate for all fast food employees. A pound of apples costs $8. O C. Ned uses his own laptop at work. Apartment rents have risen in the city of Denver. O D. Rachel buys her groceries from WinCo as it is much cheaper. Jake bought a HDTV.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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