Taylor used to work as a yoga instructor at the local gym earning $40000 a year. Taylor quit that job and started working as a personal trainer. Taylor makes $55,000 in total annual revenue. Taylor's only out-of-pocket costs are $12,000 per year for rent and utilities, $1,000 per year for advertising and $2,100 per year for equipment. Taylor's explicit costs are Multiple Choice $20,100; $30,000 $30,000; $20,100 $40,000; $15,100 $15,100; $40,000 and Taylor's implicit costs are
