Revenues of the store, John manages a dry cleaning store

Revenues of the store

Reference no: EM13914299

John manages a dry cleaning store for $30,000 per year, but decides to open his own dry cleaning store. The revenues of the store during the first year of operation are $100,000 and the expenses are $35,000 for salaries, $10,000 for supplies, $8,000 for rent, and $2,000 for utilities.

Explicit costs are equal to ________ while implicit costs are equal to ________.

Reference no: EM13914299

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