If Hasan runs the restaurant himself and before setting up this business, he was working in a company as a salesman for $15,000 per year. Hasan owns the building that his restaurant in housed in and could have rented it out for $10,000 per year. Those would be an implicit cost of opening his own restaurant. Calculate the economic profit? MICS EC

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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If Hasan runs the restaurant himself and before setting up this
business, he was working in a company as a salesman for $15,000
per year. Hasan owns the building that his restaurant in housed in
and could have rented it out for $10,000 per year. Those would be
an implicit cost of opening his own restaurant. Calculate the
economic profit?
Transcribed Image Text:If Hasan runs the restaurant himself and before setting up this business, he was working in a company as a salesman for $15,000 per year. Hasan owns the building that his restaurant in housed in and could have rented it out for $10,000 per year. Those would be an implicit cost of opening his own restaurant. Calculate the economic profit?
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