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Ierofanga [76]
3 years ago
6

Billy Bob runs a seafood restaurant. Last year, he earned $70000 in revenue. He had explicit costs of $15000. Billy Bob could ha

ve made $30,000 working for the county, and he could have received an additional $20,000 if he had rented out his building and equipment.Calculate Billy Bob’s accounting profit.
Business
1 answer:
olganol [36]3 years ago
6 0

Answer:

Accounting profit= $55,000

Explanation:

Giving the following information:

Last year, he earned $70000 in revenue. He had explicit costs of $15000.

<u>The accounting profit doesn't take into account the opportunity cost of other income options.</u>

Accounting profit= 70,000 - 15,000= $55,000

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