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Laurent Laurent
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6 years ago
Hamzy quits a $10,000 a year job at Abercrombie, borrows $8,000 on his VISA card at a 25% interest rate, and opens a business giving tours of downtown Winnipeg. Hamzy pays himself $20,000 a year. After one year he earned accounting profits of $2,000. His economic profits are
A) - $30,000.
B) - $8,000.
C) $2,000.
D) - $2,000.
E) 0.
Textbook 
Microeconomics for Life: Smart Choices for You

Microeconomics for Life: Smart Choices for You


Edition: 2nd
Author:
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AryanAryan
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