Bill is an economics professor who earns $37,000 teaching but ...

[809779]

Bill is an economics professor who earns $37,000 teaching but decides to leave and fulfill his dream of catering barbecues. During his year of barbecuing he earned total revenue of $60,000. He spent $30,000 on food and supplies. He also paid his wife $10,000 to help serve food. The normal profit for an entrepreneur running a barbecue business is $3,000. Bill also rented an industrial grill/fry truck for $12,000. Bill had an economic
◦ profit of $20,000.
◦ loss of -$32,000.
◦ loss of -$42,000.
◦ profit of $28,000.
◦ profit of zero.

[dawsa925]

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[809779]

Thank you!

[dawsa925]

Always glad to help...