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.
3/20
Of means multiply. When it says 3/10 of 4/8, it just means 3/10*4/8 which when multiplied across gives you 12/80. Which can be simplified to 3/20.
Hope this helps.
e
The constant of proportionality is 2/3 bc it lands on 2/3 and 4/6 simplified is 2/3 as well :)
16
2x+3 = 11
2x= 8
x = 4
4(x) = 4(4) = 16