Craig quit a job earning $12,000 per year to open his own lawn-care service. Yesterday, he was offered a job earning $20,000 per year at Home Depot, but he turned it down to continue running his lawn-care service. Assuming that his total revenue (= P × Q) has not changed, (a) explain the impact of this job offer on Craig's economic profit, and (b) explain the impact of this job offer on his normal profit.

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The Answer of Craig quit a job earning $12,000 per year to open his own lawn-care service. Yesterday, he was offered a job earning $20,000 per year at Home Depot, but he turned it down to continue running his lawn-care service. Assuming that his total revenue (= P × Q) has not changed, (a) explain the impact of this job offer on Craig's economic profit, and (b) explain the impact of this job offer on his normal profit.

Craig Quit a Job Earning $12,000 Per Year to Open