Heidi quit her job as a chef making 40,000 per year to start her own restaurant. The first year, Heidi's restaurant earned 100,000 in revenue. Heidi pays 50,000 per year in wages to the waitresses and hostess and 20,000 per year to buy food.
What is Heidi's profit as measured by an accountant for the year? A) 80,000
B) 50,000
C) 30,000
D) -10,000
Question 2
The above figure shows the demand curve for movie rentals from Redbox. At which of the following prices is the demand unit elastic?
A) 5.00
B) 3.50
C) 2.50
D) 0.00
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