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Explicit costs, Microeconomics
Joe is the owner-operator of Joe’s Haircuts Unlimited. Last year he earned $100,000
in total revenues and paid $65,000 to his employees and suppliers. During the
course of the year he received three offers to work for other barbers, with the highest
offer being $40,000 per year. What are Joe’s implicit costs?
Posted Date: 11/22/2012 6:08:39 PM | Location : United States
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