Respuesta :
Answer:
a. Tyler says his costs are $25,900, and Greg says his costs are $66,500.
Explanation:
We know accounting cost is the expenditure made on ingredients by the company which is, $25000 that Walter paid for supplies last year. Walter also paid 3 % interest to his uncle,
Interest to the uncle = (30000*3)/ 100
= $900
total accounting cost that an accountant quotes = 25000 + 900
= $25,900
According to the economist explicit cost is $25900. We also include implicit cost in it. If Walter would not be a business then he would be earning $40000 as teacher and $600 interest from savings bank account.
total economic cost according to economist = 25900 + 40000 + 600
= $66,500