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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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Costs of production that do not change when output changes. question 17 options: total revenuefixed incometotal costfixed cost
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Josie just bought her first fish tank a 36 -gallon glass aquarium, which she’s been saving up for almost a year to buy. for josie, the fish tank is most likely what type of purchase
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Lauren runs a chili restaurant in San Francisco. Her total revenue last year was $110,000. The rent...
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