Mika's Manicures Leases a Space in the Local Mall for $4,500

question 64

Multiple Choice

Mika's Manicures leases a space in the local mall for $4,500 a month.For this business,this expense would be considered an:

• A) implicit cost of $4,500.
• B) explicit cost of $4,500.
• C) explicit cost of $0.
• D) This is neither an implicit or explicit cost; it is a fixed cost of $4,500.

---

Definitions:

Shakers

A religious sect known for their communal living, celibate lifestyle, and rhythmic worship practices, originating in the 18th century England and later establishing communities in America.

Ann Lee

A religious leader known for founding the Shakers, a Christian sect that emphasized simple living, celibacy, and communal living, in the late 18th century.

Market Revolution

A period of significant change in the United States during the early 19th century, characterized by the rapid expansion of capitalism and the development of a national market economy.

Cooperative Basis

A foundational principle for organizations or enterprises that are owned and run jointly by their members, who share the profits or benefits.