John owns John's Juice Emporium. In the previous year, John's Juice had the following revenues and costs: Revenues $250,000 Supplies = $30,000 Utilities $15,000 Employee Salaries = $10,000 John's Salary = $20,000 John has an option of close his juice business and renting out the building for $60,000 a year. Additionally, John has a job offer that would offer a salary of $90,000 per year and another job offer that would offer him $50,000 per year. John can only work one job at any time. What is the economic profit of operating John's Juice Emporium? = $85,000 $25,000 -$25,000

John owns John's Juice Emporium. In the previous year, John's Juice had the following revenues and costs: Revenues $250,000 Supplies = $30,000 Utilities $15,000 Employee Salaries = $10,000 John's Salary = $20,000 John has an option of close his juice business and renting out the building for $60,000 a year. Additionally, John has a job offer that would offer a salary of $90,000 per year and another job offer that would offer him $50,000 per year. John can only work one job at any time. What is the economic profit of operating John's Juice Emporium? = $85,000 $25,000 -$25,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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