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After completing university, you get a job with a monthly salary of $10000. However, you decide to become a photographer and pay yourself $2000 per
After completing university, you get a job with a monthly salary of $10000. However, you decide to become a photographer and pay yourself $2000 per month. In the first month of operation, you spend $6000 on materials for making photograph, $ 1000 on other variable inputs and $2500 for your studio rent. Revenue for first month is $14500. What are your economic profits from the first month ?
A +3000
B -5000
C -6000
D -7000
E +4000
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