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 profit is Select one: a. 10,000 O b. -10,000 O c. -40,000 O d. 20,000 O e. 40,000
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 profit is Select one: a. 10,000 O b. -10,000 O c. -40,000 O d. 20,000 O e. 40,000
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter10: Monopolistic Competition And Oligopoly
Section: Chapter Questions
Problem 16CTQ: Would you rather have efficiency or variety? That is, one opportunity cost of the variety of...
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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 profit is
Select one:
a. 10,000
O b.-10,000
O c. -40,000
O d. 20,000
O e. 40,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa201da87-b935-48c6-a57a-4fc3209d6c64%2Fe3a8baaa-50ca-4856-a6b3-8754abcd13e0%2F4uojzvn_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 profit is
Select one:
a. 10,000
O b.-10,000
O c. -40,000
O d. 20,000
O e. 40,000
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