Business, 18.07.2020 16:01 brielled5203

Lauren runs a chili restaurant in San Francisco. Her total revenue last year was $110,000. The rent on her restaurant was $48,000, her labor costs were $42,000, and her materials, food and other variable costs were $20,000. Lauren could have worked as a biologist and earned $50,000 per year. An economist calculates her implicit costs as:

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Lauren runs a chili restaurant in San Francisco. Her total revenue last year was $110,000. The rent...