The table below shows the information on Ilham Bakery. Item Amount Revenue in operating the bakery shop RM 80 000 Income that could have been earned if working as an employee to others RM 7 000 Utility cost RM 1 200 Salary of workers RM 15 000 Cost of raw materials RM 20 000 What is the economic profit?
The table below shows the information on Ilham Bakery. Item Amount Revenue in operating the bakery shop RM 80 000 Income that could have been earned if working as an employee to others RM 7 000 Utility cost RM 1 200 Salary of workers RM 15 000 Cost of raw materials RM 20 000 What is the economic profit?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
The table below shows the information on Ilham Bakery.
Item Amount
Revenue in operating the bakery shop RM 80 000
Income that could have been earned if working as an employee to others RM 7 000
Utility cost RM 1 200
Salary of workers RM 15 000
Cost of raw materials RM 20 000
What is the economic profit?
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