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Business, 30.03.2020 23:04 gui00g7888888888888

Barney decides to quit his job as a corporate accountant, which pays $10 890 a month, and goes into business for himself as a certified public accountant. He runs his business from his converted garage apartment, which he could rent out for $926 a month if he wasn’t using it as a home office. He must purchase office supplies worth $71 a month, and his monthly electricity bill has increased by $90 now that he is working out of his home office. After six months of working from home, Barney has earned an average of $15 000 per month. a. What are Barney’s monthly explicit costs? b. What are Barney’s monthly implicit costs? c. What are Barney’s monthly economic costs?

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Barney decides to quit his job as a corporate accountant, which pays $10 890 a month, and goes into...

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