If You are the owner and only employee of a company that writes computer software that is used by gamblers to collect sports data. Last year you earned a total revenue of $90,000. Your costs for equipment, rent, and supplies were $60,000. To start this business you invested an amount of your own capital that could pay you a return of $40,000 a year. then your economic costs are: Select one: O a. 60,000 O b. 10,000 c. 100,000 O d. 40,000 O e. 90,000
If You are the owner and only employee of a company that writes computer software that is used by gamblers to collect sports data. Last year you earned a total revenue of $90,000. Your costs for equipment, rent, and supplies were $60,000. To start this business you invested an amount of your own capital that could pay you a return of $40,000 a year. then your economic costs are: Select one: O a. 60,000 O b. 10,000 c. 100,000 O d. 40,000 O e. 90,000
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![If You are the owner and only employee of a
company that writes computer software
that is used by gamblers to collect sports
data. Last year you earned a total revenue of
$90,000. Your costs for equipment, rent, and
supplies were $60,000. To start this business
you invested an amount of your own capital
that could pay you a return of $40,000 a
year. then your economic costs are:
Select one:
a. 60,000
b. 10,000
O c. 100,000
O d. 40,000
O e. 90,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa201da87-b935-48c6-a57a-4fc3209d6c64%2F27f5e3c9-177d-4e9b-a023-959a6b1e69b3%2Fgqkzbzb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If You are the owner and only employee of a
company that writes computer software
that is used by gamblers to collect sports
data. Last year you earned a total revenue of
$90,000. Your costs for equipment, rent, and
supplies were $60,000. To start this business
you invested an amount of your own capital
that could pay you a return of $40,000 a
year. then your economic costs are:
Select one:
a. 60,000
b. 10,000
O c. 100,000
O d. 40,000
O e. 90,000
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