Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Table B Bookkeeping for DrinkCo Total Revenues $300,000 Salaries Paid to Workers $95,000 Input Costs for Food Ingredients $24,764 Utilities Bill $16,280 Opportunity Cost of
| Table B | |
| Bookkeeping for DrinkCo | |
| Total Revenues | $300,000 |
| Salaries Paid to Workers | $95,000 |
| Input Costs for Food Ingredients | $24,764 |
| Utilities Bill | $16,280 |
| Opportunity Cost of Owner's Time | $71,065 |
See the above table. What is the economic profit earned by DrinkCo?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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
Introduction to Behavioral Economics
Authors: David R. Just
1st edition
0470596228, 978-0470596227
