Suppose that Bob leaves a job that pays $100,000 per year in order to open a new sponge business. His insurance cost is $8,000,
1 answer:
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.
You might be interested in
Answer: 31.43 cm
Step-by-step explanation:
The length of an arc is calculated using the formula:
X 2
r
where : theta is the angle in degree
r = radius
If the angle is given in Radian , the length can be calculated using the formula:
L = r∅
Since , the angle is given in degree , we will use the first formula.
L = X 2
r
L = X 2 X π X 15
L = X 2 X
X 15
L =
L = 31.42857143
L ≈ 31.43 cm