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Tragamin Tragamin
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3 years ago
Lance cashes a bond paying 5% per year and invests this $1,000,000 in his courier business. He quit a $40,000-a-year job as a letter carrier to open the business. After one year he earned an accounting profit of $150,000. Depreciation costs were $10,000. His economic profits are
A) $110,000.
B) $100,000.
C) $140,000.
D) $60,000.
E) $150,000.
Textbook 

Microeconomics for Life: Smart Choices for You


Edition: 2nd
Author:
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holymanholyman
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3 years ago
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