economics quesrtion?

Question

Two friends, diance and sam, own and run a bar. diane tends the bar on MWF and receives a wage in addition to tips. Same tends bar on T, Thurs, Sat and receives only tips. which of the following represents an implicit cost of operatin the bar?

a) sams time
B) both dianes and sams tips
c) dianes wage
d) sames tips
e) dianes tips

is the answer a or c, im thinking c
2) amanda opens a lemonade stand. she makes all the lemonade from a mix she found in her parents pantry. her stand is a old box she found in the garage and the pitcher and paper cups were taken from the kitchen. which of the following is true?

1) the only opp cos of the lemonade is amandas time
2) the implicit costs of amandas lemonade are zero
3) amandas explicit costs are zero
4) the opp. cost of lemonade is zero
5) revenue amanda gets will be pure economic profit

answer a??

Answer 1

a) sams time - he's donating his time implicit cost = opportunity cost, that he can work somewhere and get paid for it

3) Amanda's explicit costs are zero - explicit = costs you pay in cash for, she didn't pay for anything