Economics > QUESTIONS & ANSWERS > University of Louisiana, Lafayette - ECON 528 / ECON528 Module 2 Homework Assignment 2018 (All)
University of Louisiana, Lafayette - ECON 528 / ECON528 Module 2 Homework Assignment 2018
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Question 1 Correct Mark 1.00 out of 1.00 Golda Rush quit her job as a manager for Home Depot to start her own hair dressing salon, Goldilocks. She gave up a salary of $40,000 per year, invested he... r savings of $30,000 (which was earning 5 percent interest) and borrowed $10,000 from a close friend, agreeing to pay 5 percent interest per year. In her first year, Golda spent $18,000 to rent a salon, hired a part-time assistant for $12,000 and incurred another $15,000 on equipment and hairdressing material. Based on this information, what is the amount of her implicit costs? Select one: a. $70,000 b. $41,500 c. $42,000 d. $80,000 Your answer is correct. The correct answer is: $41,500 [Show More]
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