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Title: Lauren runs a chili restaurant in San Francisco. Her total revenue last year was $110,000. The rent Post by: Loraine on Jun 21, 2015 Lauren runs a chili restaurant in San Francisco. Her total revenue last year was $110,000. The rent on her restaurant was $48,000, her labor costs were $42,000, and her materials, food and other variable costs were $20,000. Lauren could have worked as a biologist and earned $50,000 per year. An economist calculates her implicit costs as
A) $150,000. B) $63,000. C) $50,000. D) $110,000. E) $0 because Lauren did not work as a biologist. Title: Re: Lauren runs a chili restaurant in San Francisco. Her total revenue last year was $110,000. The r Post by: Chimelo46 on Jul 30, 2015 Content hidden
Title: Re: Lauren runs a chili restaurant in San Francisco. Her total revenue last year was $110,000. The rent Post by: Chimelo46 on Aug 31, 2015 The textbook reference in your signature really helped me narrow it down.
Happy to help ;) |