Last year Christine worked as a consultant. She hired an administrative assistant for $15,000 per year and rented office space (utilities included) for $3,000 per month. Her total revenue for the year was $100,000. If Christine hadn't worked as a consultant, she would have worked at a real estate firm earning $40,000 a year. Last year, Christine's explicit costs were ________, and her implicit costs were ________.
A. $15,000; $43,000
B. $36,000; $140,000
C. $51,000; $40,000
D. $18,000; $40,000
Answer: C
Economics
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