A Young Chef Is Considering Opening His Own Sushi Bar

question 53

Multiple Choice

A young chef is considering opening his own sushi bar.To do so, he would have to quit his current job, which pays $20, 000 a year, and take over a store building that he owns and currently rents to his brother for $6, 000 a year.His expenses at the sushi bar would be $50, 000 for food and $2, 000 for gas and electricity.What are his implicit costs?

• A)$26, 000
• B)$66, 000
• C)$78, 000
• D)$52, 000
• E)$72, 000

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Definitions:

Developing Countries

Nations with a lower level of industrialization, lower living standards, and lower Human Development Index (HDI) compared to developed countries.

OPEC

The Organization of the Petroleum Exporting Countries, an intergovernmental organization coordinating the petroleum policies of its member countries.

Global Supplies

The total availability of goods, commodities, or resources considered at a global scale, affecting markets, economies, and international trade.

Net Energy Ratio

indicates the balance between the amount of energy produced by a system and the energy required to create and maintain it.