Answer: $35,000
Explanation:
Implicit costs can be described as opportunity cost : the cost that could have accrued to a resource owned by a firm if it had been put to another use.
Ralph could have earned $35,000 if he were employed elsewhere. Therefore, the $35,000 is the opportunity cost of owning his pizza hut. It is the implicit cost.
The other costs in the question are explicit costs.
I hope my answer helps you.
Answer:
A mixed economy has all the advantages of a market economy. First, it distributes goods and services to where they are most needed. It allows prices to measure supply and demand. Second, it rewards the most efficient producers with the highest profit.
Explanation: