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Business, 15.04.2020 01:21 lizbethmillanvazquez

Suppose you own a small business. Last month, your total revenue was $6,000. In addition, you paid: $1,000 in monthly rent for office space, $200 in monthly rent for equipment, $3,000 to your workers in wages for the month, and $1,000 for the supplies you used that month. If you correctly determine that your economic profit last month was negative $200, then it must be true that:a) you do not have any implicit costs.
b) your implicit costs are $200 per month.
c) your implicit costs are $1,000 per month.
d) the rent you pay on your equipment is an implicit cost.

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Suppose you own a small business. Last month, your total revenue was $6,000. In addition, you paid:...
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