Answer to Question #39163 in Economics of Enterprise for marvi

Question #39163
A person managing a laundry for someone else for $30,000 per year decides for open his own laundry. Revenue during the first year of operation is $100,000 and the expenses are $3,000 for salaries, $10,000 for supplies, $8000 for rent, $2000 for utilities and $5000 for interest for a bank loan. calculate (A) explicit cost (B) Implicit Cost (C) Accounting Profit (D) Economics Profit
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Expert's answer
2014-02-18T09:10:21-0500
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