\begin{tabular}{l} 2) Lauren runs a chili restaurant in San Francisco. Her total revenue \ last year was $$ \$ 110,000 $$. The rent on her restaurant was $$ \$ 48,000 $$, her \ labor costs were $$ \$ 42,000 $$, and her materials, food and other variable \ costs were $$ \$ 20,000 $$. Lauren could have worked as a biologist and \ earned $$ \$ 50,000 $$ per year. An economist calculates her implicit costs \ as \ OA) $$ \$ 150,000 $$. \ OB) $$ \$ 63,000 $$. \ OC) $$ \$ 50,000 $$. \ OD) $$ \$ 110,000 $$. \ OE) $$ \$ 0 $$ because Lauren did not work as a biologist. \ \hline\end{tabular}

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1. Identify Lauren's explicit costs:
   - Rent: $$ \$48{,}000 $$
   - Labor costs: $$ \$42{,}000 $$
   - Materials and other variable costs: $$ \$20{,}000 $$

2. The total explicit cost is:
   $$
   \$48{,}000 + \$42{,}000 + \$20{,}000 = \$110{,}000
   $$

3. The implicit cost is defined as the opportunity cost of Lauren's resources. Here, the relevant implicit cost is the salary she forgoes by not working as a biologist, which is:
   $$
   \$50{,}000
   $$

4. Therefore, the implicit cost calculated is:
   $$
   \$50{,}000
   $$

5. This corresponds to option OC.
The implicit cost is \$50,000, which is option C.

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