3. Homoud owns a coffee shop that earns him a monthly revenue of 7,500 KD. He spends 240 hours every month on his

business trying his best to improve it. Every month, Homoud pays 2,083 KD for coffee beans, milk, cups and other

needed supplies and equipment for his coffee shop, 167 KD for water and electricity, and 750 KD in salaries for his

workers. He also pays 2,000 KD a month to rent the place that his coffee shop occupies.

As a civil engineer with a previous 5 years of experience, Homoud has two job offers at a construction company at a

salary of 1,200 KD and another offer at a public sector institution at 1,170 KD. Each of these jobs will require 160

hours of work every month. He can only work one job, though.

In general, assume that each hour of Homoud's time is worth 6 KD. Calculate Homoud's:

a. Explicit costs

b. Implicit costs

C. Opportunity costs

d. Accounting profit

e. Economic profit