Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Consider the following scenario in relation to your venture and determine the opportunity cost of leaving your job to become an entrepreneur. You currently make

Consider the following scenario in relation to your venture and determine the opportunity cost of leaving your job to become an entrepreneur. You currently make $X per year at your job plus benefits (equal to 30% of your salary) (you don't have to publicly state your salary - just the opportunity cost). On January 1 of the New Year, you start your own business. After the first year, your accountant informs you that you made $45,000 and out of that you paid $6,000 for health insurance. What was your opportunity cost? If your opportunity cost is higher than you would like, how can you lower your opportunity cost in the future years

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Economic Consequences Of The Peace

Authors: John Maynard Keynes

1st Edition

1420905856, 9781420905854

More Books

Students also viewed these Economics questions