Mike wants to open his own repair shop, and is considering using his savings of $30,000 to get it started. he is currently earning 3 percent interest on his savings. his friend bob calls him and asks to borrow $30,000 to start up a bagel shop: bob offers to pay him 5 percent interest if he loans him the money. if mike were to use the money to open his own repair shop, how can he accurately account for his costs? multiple choice

a. mike must consider the $900 in forgone interest on his savings as an implicit cost
b. mike must consider the $1500 in forgone interest from loaning the money to bob as an implicit cost.
c. mike must consider the $900 in forgone interest on his savings as an explicit cost.
d. mike must consider the $1.500 in forgone interest from loaning the money to bob as an explicit cost.

Suppose that a monopolistically competitive restaurant is currently serving 260 meals per day (the output where mr

Transactions on april 1 of the current year, andrea byrd established a business to manage rental property. she completed the following transactions during april: opened a business bank account with a deposit of $45,000 from personal funds. purchased office supplies on account, $2,000. received cash from fees earned for managing rental property, $8,500. paid rent on office and equipment for the month, $5,000. paid creditors on account, $1,375. billed customers for fees earned for managing rental property, $11,250. paid automobile expenses for month, $840, and miscellaneous expenses, $900. paid office salaries, $3,600. determined that the cost of supplies on hand was $550; therefore, the cost of supplies used was $1,450. withdrew cash for personal use, $2,000. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300)

An investment offers a total return of 18 percent over the coming year. janice yellen thinks the total real return on this investment will be only 14 percent. what does janice believe the inflation rate will be over the next year?