An economist works out that, over the course of a year, a firm has the following costs (in $000): wages and salaries 150; opportunity cost of owner’s time 35; materials 80; rent 30; marketing fees 20; interest on bank loans 25; interest forgone on finance provided by owner 10. By how much does total cost as defined by an economist exceed the total cost as defined by an accountant?
- A$75 000
- B$45 000
- C$35 000
- D$10 000