Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 25, 2024

Lisa quit her $23000-per-year job to start her own economics consulting firm. At the end of her first year of operation, her total revenues were

Lisa quit her $23000-per-year job to start her own economics consulting firm. At the end of her first year of operation, her total revenues were $146000. Her total explicit costs were $48000. What was her economic profit for the year?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

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

Step: 2

Step: 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

Precalculus

Authors: Michael Sullivan

9th edition

321716835, 321716833, 978-0321716835

Students also viewed these Economics questions

Question

★★★★★

On a climb up Mt. Whitney, the atmospheric pressure is 467 mmHg. What is the pressure in terms of the following units? a. atm b. torr

Answered: 1 week ago

Question

★★★★★

What are the eight types of intelligence? (p. 65)

Answered: 1 week ago

Question

★★★★★

Janzen Inc. sells all of its product on account. Janzen has the following accounts receivable payment experience: Percent paid in the month of sale ..........20 Percent paid in the month after the...

Answered: 1 week ago

Question

★★★★★

21-BBC Company has 2,000 shares of 8%,50 par value,Cumulative Preferred stock & 50,000 shares of 1$ par value common stock outstanding at December31,2011 and December31,2012.the board of directors...

Answered: 1 week ago

Question

★★★★★

S. 588J CA2001 (1) Where, on an application for a civil penalty order against a person in relation to a contravention of subsection 588G(2), the Court is satisfied that: (a) the person committed the...

Answered: 1 week ago

Question

★★★★★

Some of the elementary students have had pre-K enrichment and others have not. We notice a possible split based on Type of Neighborhood (urban, suburban, rural) and construct the following...

Answered: 1 week ago

Question

★★★★★

DBG Company has just added a new division in to manufacture specially designed classroom desk to facilitate the use technological devices in schools. It has prepared the following data for the year...

Answered: 1 week ago

Question

★★★★★

Refer to the "Plotting Data" lesson found in the Spring Force chapter of Moodle and plot the "Spring Forces (Hooke's Law)" data on the following graph. Make sure you refer to the table so you graph...

Answered: 1 week ago

Question

★★★★★

Describe Briefly How did Baosteel Europe overcome the challenges of managing a subsidiary? Refrences

Answered: 1 week ago

Question

★★★★★

Identify, as part of a review, an administrative system, to determine if there is a need to make changes or modifications to this. Performa consultation with a small group of system users and discuss...

Answered: 1 week ago

Question

★★★★★

Witt Recreation Company (WRC) makes e-bikes. The company currently manufactures two models, the Coaster and the Traveler, in one of the WRC factories. Both models require the same assembling...

Answered: 1 week ago

Previous Question Next Question