Suppose a person quits a job earning $40,000 per year and starts a business with $175,000 withdrawn from a money-market account earning 12% per year.
the implicit cost of the business is $ the entrepreneur's time plus $ for the entrepreneurs funds

$61,000

Explanation:

Implicit cost is the value of the benefit or income forgone to take up another activity. In this example for the business it's the wages and interest income forgone by the person to start the business.

answer; the inspector may have found some violation that could cause death or some kind of serious injury;

answer; depth;