2.50%Table Cost.1.2:AmountInterest RateLoan #1 =$40,0001.50%Loan #2 =$50,0002.50%Owner's Last Job Wage = $55,000%3DLabor =$10,000Ingredients =$50,000Rents =$1,500Total Revenue$190,000According to information in Table Cost.1.2 where loans are used for establishing thefirm, accounting and economic profits areandrespectively.O $36.650; minus $18,350O $36.650; minus $18.450

Accounting profit = total revenue – Explicit cost Economic profits = Accounting profit – Implicit…

Answered: According to information in Table…

According to information in Table Cost.1.2 where loans are used for establishing the firm, accounting and economic profits are and respectively. O $36.650; minus $18,350 O $36.650; minus $18,450

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

2.50%
Table Cost.1.2:
Amount
Interest Rate
Loan #1 =
$40,000
1.50%
Loan #2 =
$50,000
2.50%
Owner's Last Job Wage = $55,000
%3D
Labor =
$10,000
Ingredients =
$50,000
Rents =
$1,500
Total Revenue
$190,000
According to information in Table Cost.1.2 where loans are used for establishing the
firm, accounting and economic profits are
and
respectively.
O $36.650; minus $18,350
O $36.650; minus $18.450

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