Faisal is an electrical engineer degree and he has a business of manufacturing golf balls. He spends 40,000 AED per year on supplies and storage space for manufacturing golf balls. He recently received two job offers from another famous electronics manufacturing firm-one offer was for 100,000 AED per year and the other was for 80,000 AED. However, he turned both jobs down to continue with his business of making golf balls. If he sells 25000 packs of golf balls per year at a price of 8 AED each, calculate his Accounting profit? _________________ Economics profit? __________________

Faisal is an electrical engineer degree and he has a business of manufacturing golf balls. He spends 40,000 AED per year on supplies and storage space for manufacturing golf balls. He recently received two job offers from another famous electronics manufacturing firm-one offer was for 100,000 AED per year and the other was for 80,000 AED. However, he turned both jobs down to continue with his business of making golf balls. If he sells 25000 packs of golf balls per year at a price of 8 AED each, calculate his Accounting profit? _ Economics profit? __

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter17: Capital And Time

Section: Chapter Questions

Problem 17.6P

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