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The Ochoas are opening up asmoothie shop. Mr. Ochoa is giving up his real estate position making$90,000a year and Mrs. Ochoadid not work outside of
The Ochoas are opening up asmoothie shop. Mr. Ochoa is giving up his real estate position making$90,000a year and Mrs. Ochoadid not work outside of the homeprior to the opening of the smoothie shop. The Ochoas are renting a building in a strip mall for$22,000per year. They anticipate spending an average of$18,000on ingredients and appliances each year, and they anticipate revenue of$230,000a year once they are established. Calculate the Ochoas' annual economic profit.
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