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Title: Katy quits her job as a teacher and uses all of her savings to open Katy's Korner Ice Cream. As a t Post by: stars_and_moon on Jul 20, 2016 Katy quits her job as a teacher and uses all of her savings to open Katy's Korner Ice Cream. As a teacher she earned $30,000 per year. The $100,000 she took out of savings to buy the business used to earn her $10,000 per year in interest. Katy's total revenue is $200,000 and her explicit costs are $150,000. How much are Katy's economic profits or losses?
A) $160,000 profit B) $80,000 loss C) $50,000 profit D) $10,000 profit Title: Re: Katy quits her job as a teacher and uses all of her savings to open Katy's Korner Ice Cream. ... Post by: kingby on Aug 8, 2016 Content hidden
Title: Re: Katy quits her job as a teacher and uses all of her savings to open Katy's Korner Ice Cream. As a t Post by: stars_and_moon on Aug 17, 2016 Perfectly answered :D
Cheers Title: Re: Katy quits her job as a teacher and uses all of her savings to open Katy's Korner Ice Cream. As a t Post by: kingby on Aug 18, 2016 I instantly knew the answer when I read the question, happy to help
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