Nick is considering quitting his current job as an electrician and following his lifelong dream of opening a restaurant. This decision requires careful analysis and evaluation. If he chooses to do this, he would have to quit his current job, which pays $70,000 a year, and take over a building that he owns and currently rents out for $12,000 a year. His expenses at the restaurant would be $100,000 for food and $8,000 for gas and electricity. Nick should go ahead and quit current job and implement his plans only if the projected revenue is equal or greater than a $12,000 b $82,000 c $108,000 d $190,000 e $70,000
Nick is considering quitting his current job as an electrician and following his lifelong dream of opening a restaurant. This decision requires careful analysis and evaluation. If he chooses to do this, he would have to quit his current job, which pays $70,000 a year, and take over a building that he owns and currently rents out for $12,000 a year. His expenses at the restaurant would be $100,000 for food and $8,000 for gas and electricity. Nick should go ahead and quit current job and implement his plans only if the projected revenue is equal or greater than a $12,000 b $82,000 c $108,000 d $190,000 e $70,000
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Nick is considering quitting his current job as an electrician and following his lifelong dream of opening a restaurant. This decision requires careful analysis and evaluation. If he chooses to do this, he would have to quit his current job, which pays $70,000 a year, and take over a building that he owns and currently rents out for $12,000 a year. His expenses at the restaurant would be $100,000 for food and $8,000 for gas and electricity. Nick should go ahead and quit current job and implement his plans only if the projected revenue is equal or greater than
a
$12,000
b
$82,000
c
$108,000
d
$190,000
e
$70,000
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