Firm A is in food industry, and firm A makes total revenue of $2000 this month. In order to support the production, the owner had to give up his part-time job, from which he was paid $500/month. The total explicit costs to support this company is $850/month. Please calculate the Economic Profit of firm A. O a 1150 O b. 1500 O c. 650 O d. 2000 O e 1350

Firm A is in food industry, and firm A makes total revenue of $2000 this month. In order to support the production, the owner had to give up his part-time job, from which he was paid $500/month. The total explicit costs to support this company is $850/month. Please calculate the Economic Profit of firm A. O a 1150 O b. 1500 O c. 650 O d. 2000 O e 1350

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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