answer quickly . Suppose that a sole proprietorship isearning total revenue of 1,00,000and is incurring explicit costs of75,000. If the owner could workfor another company for 7 30,000 ayear, would you conclude that thefirm is incurring an economic lossor getting profit?

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Suppose that a sole proprietorship is earning total revenue of { 1,00,000 and is incurring explicit costs of Ž 75,000. If the owner could work for another company for 30,000 a year, would you conclude that the firm is incurring an economic loss or getting profit?

Suppose that a sole proprietorship is earning total revenue of { 1,00,000 and is incurring explicit costs of Ž 75,000. If the owner could work for another company for 30,000 a year, would you conclude that the firm is incurring an economic loss or getting profit?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 4SCQ: Based on your answers to the WipeOut Ski Company in Exercise 7.3, now imagine a situation where the...

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answer quickly

. Suppose that a sole proprietorship is
earning total revenue of 1,00,000
and is incurring explicit costs of
75,000. If the owner could work
for another company for 7 30,000 a
year, would you conclude that the
firm is incurring an economic loss
or getting profit?

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