Betty runs a cookie shop where she sells cookies for $1 each. she employs five people, each of whom worked a total of 500 hours last year; she paid them $10 per hour. her costs of equipment and raw materials add up to $75,000. her business ability is legendary, and other companies have offered to pay betty $100,000 to come to work for them. she also knows she could sell her cookie shop for $150,000. the bank in town pays an annual interest rate of 3% on all funds deposited with it. reference: ref 9-18 (scenario: betty's cookie shop) betty's implicit and explicit costs are equal to: a. $80,000. b. $184,500. c. $100,000. d. $204,500. show
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Betty runs a cookie shop where she sells cookies for $1 each. she employs five people, each of whom...
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