This topic contains a solution. Click here to go to the answer
« previous next »
Pages: 1 2 3  All   Go Down

Author Question: Refer to Scenario 7.1 below to answer the question(s) that follow. SCENARIO 7.1: You are the owner ... (Read 307 times)

misspop

  • Hero Member
  • *****
  • Posts: 540
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

cuttiesgirl16

  • Sr. Member
  • ****
  • Posts: 345
Reply #21 on: Apr 19, 2019
-$10,000.


misspop

  • Hero Member
  • *****
  • Posts: 540
Reply #22 on: Apr 19, 2019
Thank you!


cuttiesgirl16

  • Sr. Member
  • ****
  • Posts: 345
Reply #23 on: Apr 19, 2019
Always glad to help...


Pages: 1 2 3  All   Go Up
« previous next »
 

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Statistics Question: A swim team Statistics Question: A swim team
So the answer is 0 ? So the answer is 0 ?
Economics question Economics question
Math question Math question
economic question economic question
economic question economic question
Video: Medullary osmotic gradient - influencing factors

For a complete list of videos, visit our video library