Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the location and buy the stock. In addition, she would have to quit her $50,000 per...

Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the location and buy the stock. In addition, she would have to quit her $50,000 per year job as an accountant. Your aunt’s opportunity costs comprise *

If your aunt thought she could sell $510,000 worth of merchandise in a year, what is your aunt’s accounting profit? *

$10,000
-$40,000
$460,000
$0
Given the above situation, what is your aunt’s economic profit? *

$10,000
-$40,000
$460,000
$0

Jun 10, 2022

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Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the location and buy the stock. In addition, she would have to quit her $50,000 per...

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