Ultimate Business Study Guide - Questions & Answers
a person starts his own business. he quits his $75,000 a year job. expenses include wages and salaries of $100,000 a year, utilities of $5,000 a year, and materials of $40,000 and equipment of $50,000. if revenues are $200,000, his accounting profit is and his economic profit is $80,000; $5,000 - $70,000; - $70,000 $5,000; - $70,000 $5,000; $5,000