What were carolines implicit costs in carolines new job

Reference no: EM13213996

Caroline received a $1 million payment from a lottery ticket. She decided to use the money to purchase a cupcake business. If Caroline had invested the $1 million in a money market account, she would have made $30,000 in interest each year. Caroline quit her job as a waitress in order to devote all her time to making profit in her new business. As a waitress, she earned $35,000 a year.

What were Caroline's implicit costs in her new job

Reference no: EM13213996

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