You are considering quitting your job where you earn $3,500 per month and opening a new business. The cost of renting an office is $2,100 per month, hiring employees would cost $3,200 per month, and utilities would cost $500 per month. The new business will earn a total revenue of $6,000 per month. What is your economic profit per month? Provide your answer below:

You are considering quitting your job where you earn $3,500 per month and opening a new business. The cost of renting an office is $2,100 per month, hiring employees would cost $3,200 per month, and utilities would cost $500 per month. The new business will earn a total revenue of $6,000 per month. What is your economic profit per month? Provide your answer below:

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter8: Production And Costs

Section8.2: Two Sides To Every Business Firm

Problem 4ST

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