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stars_and_moon stars_and_moon
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Posts: 3218
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8 years ago
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
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kingbykingby
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8 years ago
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#2
8 years ago
Perfectly answered Smiling Face with Open Mouth

Cheers
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#3
8 years ago
I instantly knew the answer when I read the question, happy to help
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