Question
1) Emily recently graduated with a B.A in economics and was offered a job with a small but growing company for $40,000 per year. About
1) Emily recently graduated with a B.A in economics and was offered a job with a small but growing company for $40,000 per year. About the same time ,Emily inherited $62000. She decided to pass up the job and use her inheritance to purchase a bubble tea shop rather than put the money into a bond fund (as her uncle suggested) which have paid 6 percent per year interest. Emily works full -time at her new business,and at the end of the year she has revenue of $83000 and total explicit costs of $41000a) what was Emily accounting profit and loss for the year? b) what was her economic profit or loss for year ?Please give full illustration They are two different questions
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