Pete owns a shoe-shine business. which of the following costs would be implicit costs?
(i) shoe polish
(ii) rent on the shoe stand
(iii) wages pete could earn delivering newspapers
(iv) interest that pete’s money was earning before he spent his savings to set up the shoe-shine business

(iii) and (iv)

Explanation:

The correct answer is option (iii) and (iv).

Implicit cost is the cost which is not reported in the separate expense.

here, the wages Pete earn by delivering newspaper is known as implicit costs because this cost is not included in the Shoe-shine business.

And also the interest that Pete money was earning has nothing to do with the cost of the shoe-shine business hence, it will also come under implicit cost.

so, both the options are an example of implicit costs.

this is an outline for the decisions that frankie is going to make

opportunity cost

willingness to buy

price or quality

of course, there could be many economic strategies that should be considered important while making decision. opportunity cost is the foremost significant factor while considering any economic option. when you buy something, you should know how much you are forgoing for this product. indeed, you could buy something different with this measure if you changed your mind. willingness to buy shows how much surplus you are earning while making a decision. it is important because it shows you buy what you want or you buy because you have only limited amount of money. the price or quality can be considered as a general economic option that we are applying while buying something. when you buy something, price or quality could be one of the options. indeed, they define the characteristics of the product.    

mark brainliest!

aristocracy, timocracy, oligarchy, democracy, theocracy and tyranny

explanation: