The engine life for a certain brand of lawn mower is modeled by the function f(h) = 50 - 1 3 h where h represents hours used. Wh
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Answer:
-$11,000 is the economic profit or we can say it is a loss.
Step-by-step explanation:
The job paid Bob = $100000
The insurance cost is = $8,000
The material cost is = $15,000
The lease payments are = $8,000
The sales revenue is $120,000.
So, Bob's economic profit is:
Therefore, his economic profit is -$11000.