Max earns a yearly salary of $120,000 per year from his job and $1,000 per year in interest on his savings. After he quits his job to start a company, he uses all his savings to purchase manufacturing equipment for his company. Given the above information and the data summarizing his first year in business in the table, how much economic profit or loss does Max earn?
A) $4,000
B) $5,000
C) $125,000
D) $126,000
Correct Answer:
Verified
Q1: Total revenue minus expenses paid equals:
A)economic profit.
B)cost-adjusted
Q3: Malia earns a yearly salary of
Q4: Juan earns a yearly salary of
Q5: Junko earns a yearly salary of
Q6: The formula for calculating accounting profit is
Q7: Implicit opportunity costs of running a business
Q8: The two main types of implicit opportunity
Q9: Corinne is offered a job with a
Q10: How do a company's accounting profit and
Q11: Which of the following statements is true?
A)A
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