Ed Van Zaig is considering opening a sushi bar. To do so, he would have to quit his current job, which pays $20,000 a year, and use a building that he owns and currently rents to his brother for $6,000 a year. His costs at the sushi bar would be $50,000 for food and $2,000 for gas and electricity. What are his explicit costs?
a. $26,000
b. $66,000
c. $78,000
d. $52,000
e. $72,000
D
Economics
You might also like to view...
Explain how the current U.S. tax system levies taxes on capital gains and earned interest. What does this mean for the costs of inflation?
Economics
Between 1890 and 1914, the gold stock of the world doubled, but world prices fell during this time
Indicate whether the statement is true or false
Economics
The relationship between consumer spending and disposable personal income is
A) an inverse relationship. B) a direct relationship. C) a negative relationship. D) independent.
Economics
A cumulative wage-price spiral which produces very rapid inflation is called:
A. Anticipated inflation B. Demand-pull inflation C. Cost-push inflation D. Hyperinflation
Economics