Wanda owns a lemonade stand. she produces lemonade using five inputs: water, sugar, lemons, paper cups, and labour. her costs per glass are as follows: $0.01 for water, $0.02 for sugar, $0.03 for lemons, $0.02 for cups, and $0.10 for the opportunity cost of her labor. she can sell 300 glasses for $0.50 each.
1. what are wanda's explicit costs per glass?
2. what are wanda's implicit costs per glass?
3. what are wanda's total economic costs per glass?
4. what are wanda's total accounting profits?
5. what are wanda's total economic profits?