Author Question: Transaction CostsLast year Winston quit his job as a dental assistant making $42,000 a year and ... (Read 142 times)

Austinleez3 · **on:** Nov 23, 2022

Transaction Costs

Last year Winston quit his job as a dental assistant making $42,000 a year and opened a photography business, Winston's Whimsical Wonders.
For his business, he purchased a high-tech camera for $2300, purchased equipment for processing and printing photos for $1700, and spent a total of $2950 on marketing.
Assume that last year, the firm had no economic depreciation, but could have earned 10% interest on the funds used to purchase all the equipment needed.
Being the entrepreneur for the business, Winston earned a normal profit of $26,000 last year.

What is the opportunity cost of Winston's Whimsical Wonders? Please round your answer to two decimal places.
◦ $54,245.00
◦ $49,645.00
◦ $7645.00
◦ $74,950.00

ealonif · **Reply #1 on:** Nov 23, 2022

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