Statistics Solutions

[All Steps] A women managing a Kinkos operation for $25,000 per year decides to open her own copy center. Her revenue for the first year of operation is

Question: A women managing a Kinkos operation for $25,000 per year decides to open her own copy center. Her revenue for the first year of operation is $120,000 and her expenses are as follows:

Salaries to hired help 45,000
Supplies 15,000
Rent 10,000

Utilities 1,000

Interest on loan 10,000

  1. Calculate the explicit costs
  2. Calculate the implicit costs
  3. Calculate the business profits
  4. Calculate the economic profit

Price: $2.99
Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document


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