Author Question: Dr. Khan starts his own dental practice after quitting his $150,000 job at The Mall Dental Clinic. ... (Read 24 times)

burchfield96 · **on:** May 24, 2019

Dr. Khan starts his own dental practice after quitting his $150,000 job at The Mall Dental Clinic. His revenues for the first year are $500,000. He paid $90,000 in rent for the dental office, $60,000 for his office manager's salary, $24,000 for the dental hygienist, $150,000 for insurance, and $6,000 for other miscellaneous costs. The normal profit from running his business is $20,000.
◦ His accounting profit is $350,000.
◦ His economic profit is $150,000.
◦ His economic profit is zero.
◦ His accounting profit is zero.
◦ None of these answers is correct.

raili21 · **Reply #1 on:** May 24, 2019

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