Below are some financial data for the Do Drop In convenience store.
The owners have put $40,000 into the business and they worked a total of 80 hours during the week.Savings accounts are currently paying 5.2% interest and the going wage rate is $8 per hour.
-Refer to the information above to answer this question.What are the week's total explicit costs for the Do Drop In?
Definitions:
Two-Part Tariff
Form of pricing in which consumers are charged both an entry and a usage fee.
Bundling
A marketing strategy that involves offering several products or services for sale as one combined product or service package.
Marginal Cost
The added cost of producing one additional unit of output.
Marginal Revenue
The incremental income achieved by dispensing one more unit of a good or service.
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