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Business, 01.11.2019 05:31 jennlee7178

Madeline quits her job, at which she was earning $20,000 per year, and takes $50,000 out of savings and uses it to buy inventory for her business. she also pays $10,000 in rent on the building and $15,000 in additional labor costs.

madeline's explicit costs are:

y/n the interest that could have been earned on madeline's savings.
y/n the cost of inventory.
y/n the salary that madeline could have earned.
y/n the cost of additional labor.
y/n the cost of the building.

madeline's implicit costs are:
y/n the salary that madeline could have earned.
y/n the cost of inventory.
y/n the cost of the building.
y/n the cost of additional labor.
y/n the interest that could have been earned on madeline's savings.

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Madeline quits her job, at which she was earning $20,000 per year, and takes $50,000 out of savings...
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