Emily left her $200,000 job at Tesla to open a taco truck. She hired an assistant and paid him $40,000 a year. The cost of the van added up to $10,000 while other costs including ingredients, fuel and other costs to run the business added up to $120,000. Her son worked with her for a year. Usually, his income for a year would be $10,000 but he worked for free. At the end of the year, the revenue from the business added up to $420,000. What is her economic profit/loss? 

Group of answer choices 

$420000 

$40,000 

$170,000 

$250,000

Answer rating: 100% (QA)

To calculate Emilys economic profitwe need to consider both explici... View the full answer