Answer:
Wilson previously worked as an accountant, earning $3,000 a month.
Explanation:
Implicit costs or opportunity costs are the extra costs or benefits lost from choosing one activity or investment over another alternative.
In this case, Wilson had to quit his former job as an accountant in order to open his health club. So the salary that Wilson could have earned as an accountant would be the opportunity cost of opening his club.
Answer:
The answer is Surplus is equal to zero.
Explanation:
Suppose if P = 1$.
Q = 101, Qs = 79
Where as monthly surplus = 79 - 101
Monthly surplus = -22
_22 means negative surplus which can also be interpreted as zero surplus.
When it comes to the business cycle, the Real GDP can be described as the total value of the output of a nation, after this is adjusted for inflation.
<h3>What is Real GDP?</h3>
Real Gross Domestic Product (GPD) refers to the total value of goods and services produced in a year within a nation.
This amount is called "Real" when it has been adjusted for the effect of inflation on the nation and the prices of goods.
Find out more on Real GDP at brainly.com/question/13604000.
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