Gertrude quit her $40,000- per- year job to start her own own consulting firm. She withdrew her savings of $50,000 which was earning her an interest of $2000 in the bank and invested in her own consulting firm. At the end of her first year of operation, her total revenues were $208,000. Her total explicit costs were $108,000. How much are her accounting profits from her own consulting firm? O $50,000 O $30,000 O $100,000 O $48,000
Gertrude quit her $40,000- per- year job to start her own own consulting firm. She withdrew her savings of $50,000 which was earning her an interest of $2000 in the bank and invested in her own consulting firm. At the end of her first year of operation, her total revenues were $208,000. Her total explicit costs were $108,000. How much are her accounting profits from her own consulting firm? O $50,000 O $30,000 O $100,000 O $48,000
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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19
![Gertrude quit her $40,000- per- year job to start her own own consulting firm. She
withdrew her savings of $50,000 which was earning her an interest of $2000 in the
bank and invested in her own consulting firm.
ents
At the end of her first year of operation, her total revenues were $208,000.
Her total explicit costs were $108,000. How much are her accounting profits from
her own consulting firm?
O $50,000
O $30,000
O $100,000
O $48,000
21 O
32
ttv
MacBook Pro](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0bd7899a-258b-43da-ac11-7efaaa9db4ea%2F1a83fe7d-70a8-4b2a-b613-f922231a0d1e%2Ff8d7fpm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Gertrude quit her $40,000- per- year job to start her own own consulting firm. She
withdrew her savings of $50,000 which was earning her an interest of $2000 in the
bank and invested in her own consulting firm.
ents
At the end of her first year of operation, her total revenues were $208,000.
Her total explicit costs were $108,000. How much are her accounting profits from
her own consulting firm?
O $50,000
O $30,000
O $100,000
O $48,000
21 O
32
ttv
MacBook Pro
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