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Author Question: Refer to Scenario 7.1 below to answer the question(s) that follow. SCENARIO 7.1: You are the owner ... (Read 100 times)

misspop

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Reply #20 on: Apr 19, 2019

Refer to Scenario 7.1 below to answer the question(s) that follow. 

SCENARIO 7.1: You are the owner and only employee of a company that writes computer software that is used by gamblers to collect sports data. Last year you earned a total revenue of $90,000. Your costs for equipment, rent, and supplies were $60,000. To start this business you invested an amount of your own capital that could pay you a return of $40,000 a year. 





Refer to Scenario 7.1. Your economic profit last year was


◦ -$40,000.
◦ -$10,000.
◦ $10,000.
◦ $30,000.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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cuttiesgirl16

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Reply #21 on: Apr 19, 2019
-$10,000.


misspop

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Reply #22 on: Apr 19, 2019
Thank you!


cuttiesgirl16

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Reply #23 on: Apr 19, 2019
Always glad to help...


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