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misserz0210 misserz0210
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A year ago




Situation 22-4

Joe is the owner-operator of Joe's Haircuts Unlimited. Last year he earned $200,000 in total revenues and paid $125,000 to his employees and suppliers. During the course of the year, he received three offers to work for other barbers, with the highest offer being $50,000 per year.

Refer to Situation 22-4.  What are Joe's economic profits?



▸

$0



▸

$25,000



▸

-$25,000



▸

$40,000



▸

$75,000

Textbook 
Economics

Economics


Edition: 12th
Author:
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durandaldurandal
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A year ago
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misserz0210 Author
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A year ago
Smart ... Thanks!
shimyshiguy
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Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
oscar520000
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2 hours ago
Helped a lot
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