Answer to Question #39163 in Economics of Enterprise for marvi

Question

A person managing a laundry for someone else for $30,000 per year decides for open his own laundry. Revenue during the first year of operation is $100,000 and the expenses are $3,000 for salaries, $10,000 for supplies, $8000 for rent, $2000 for utilities and $5000 for interest for a bank loan. calculate
(A) explicit cost
(B) Implicit Cost
(C) Accounting Profit
(D) Economics Profit