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stars_and_moon stars_and_moon
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Posts: 3218
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7 years ago
Kathy is considering quitting her job as a professor, where she earns $50,000 per year, to open a little business renting jet skis on a beautiful beach in the Caribbean.  She calculates that she could make about $80,000 in revenue a year from her business.  The cost of jet skis and all her other equipment would be $35,000 per year.  How much are Kathy's economic profits?  How much are Kathy's accounting profits?
A) economic profits = $45,000; accounting profits = -$5,000
B) economic profits = -$5,000; accounting profits = $45,000
C) economic profits = $80,000; accounting profits = $30,000
D) economic profits = $30,000; accounting profits = $80,000
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kingbykingby
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#1
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7 years ago
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#2
7 years ago
Perfectly answered Smiling Face with Open Mouth

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