Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Samantha quit her job teaching art at the high school and is now an artist who operates her studio and gallery in town. She produces

Samantha quit her job teaching art at the high school and is now an artist who operates her studio and gallery in town. She produces watercolor paintings in the studio and sells them in the gallery. Last year at the high school she was paid a salary of $25,000. In the operation of her small business, she spent $30,000 on supplies, $15,000 on utilities, $12,000 on rent and her equipment depreciated by $3,000. How much revenue must Samantha receive so that she doesn't regret quitting her job as a high school art teacher?

(Hint: considering economic profits).

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

Step: 3

blur-text-image

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 American Economy

Authors: Walter Greason, William Gorman

1st Edition

1524902675, 9781524902674

More Books

Students also viewed these Economics questions

Question

3. How can you improve the readability of your messages?

Answered: 1 week ago

Question

What factors contribute most to the comprehension of read text?

Answered: 1 week ago