Refer to Scenario 7.5 below to answer the question(s) that ...

[burchfield96]

Question 1

Refer to Scenario 7.5 below to answer the question(s) that follow.



SCENARIO 7.5: You own and are the only employee of a company that customizes bicycles. Last year your total revenue was $60,000. Your costs for rent and supplies were $25,000. To start this business you invested an amount of your own capital that could pay you a $45,000 a year return.





Refer to Scenario 7.5. Your economic profit last year was

◦ -$20,000.
◦ -$10,000.
◦ $15,000.
◦ $35,000.

Question 2

Refer to Scenario 7.5 below to answer the question(s) that follow.



SCENARIO 7.5: You own and are the only employee of a company that customizes bicycles. Last year your total revenue was $60,000. Your costs for rent and supplies were $25,000. To start this business you invested an amount of your own capital that could pay you a $45,000 a year return.





Refer to Scenario 7.5. Your economic profit last year was

◦ -$20,000.
◦ -$10,000.
◦ $15,000.
◦ $35,000.

[LP]

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[burchfield96]

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[LP]

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