Table Cost.1.2: Amount Interest Rate Loan #1 = $40,000 2.50% Loan #2 = $45,000 4.00% Owner's Last Job Wage = $40,000 Labor = $10,000 Ingredients = $50,000 %3D Rents = $1,500 Total Revenue = $180,000 According to information in Table Cost.1.2 where loans are used for establishing the firm, accounting and economic profits are and respectively. $29,700; minus $9,300 O $30,700; minus $9,300

Table Cost.1.2: Amount Interest Rate Loan #1 = $40,000 2.50% Loan #2 = $45,000 4.00% Owner's Last Job Wage = $40,000 Labor = $10,000 Ingredients = $50,000 %3D Rents = $1,500 Total Revenue = $180,000 According to information in Table Cost.1.2 where loans are used for establishing the firm, accounting and economic profits are and respectively. $29,700; minus $9,300 O $30,700; minus $9,300

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter26: Factor Markets: With Emphasis On The Labor Market

Section26.1: Factor Markets

Problem 2ST

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