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古九寒 古九寒
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2 years ago
Professor Rush decides to quit teaching economics and opens a shoe store out at the mall. He gave up an annual income of $50,000 to open the store. A year after opening the shoe store, the total revenue for the year was $200,000. Rush's expenses were $30,000 for labor, rent was $18,000, and utilities were $1,200. He also had to purchase new shoes from manufacturers, at a cost of $60,000, which was financed by cashing in his savings of $60,000 that had been in a bank earning 8 percent per year. The normal profit from operating a shoe store in the mall is $20,000. Determine Professor Rush's total cost and economic profit.
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topgradehubtopgradehub
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2 years ago
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Source  https://biology-forums.com/index.php?topic=1673163
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古九寒 Author
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2 years ago
Helped a lot
larrybrads
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Yesterday
Just got PERFECT on my quiz
njn;l
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2 hours ago
Smart ... Thanks!
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