Consider the following income statement for the first year of operations for Anna's Sandwich Shop. Income Statement: Anna's Sandwich Shop Revenue Expenses Total sandwich sales $25,600 Bread $2,600 Condiments 850 Vegetables 450 Meat 950 Rent 2500 Insurance 1200 Total Revenue S25,600 Total Expenses $8,550 Anna withdrew $25,000 from her savings account last year to open the business after quitting her job as an equity analyst. Her annual salary was $125,000 and her bank pays 4.5% interest on saving accounts. 

What the total implicit costs associated with Anna's sandwich business?  

Answer rating: 100% (QA)

1 Opportunity Cost of Labor Anna quit her job as an equity analyst where she was earning an annual s... View the full answer