Mr. Tango operates a lawn care service. This past year he earned $100,000 in revenue. His...
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Mr. Tango operates a lawn care service. This past year he earned $100,000 in revenue. His operating monetary costs (e.g.. maintenance, fuel, insurance, etc.) totaled $40,000 for the year. The job he recently left (that he could return to if he wanted) to start his own lawn care business paid an annual salary of $50,000. How much economic profit did Mr. Tango earn this past year? Mr. Tango operates a lawn care service. This past year he earned $100,000 in revenue. His operating monetary costs (e.g.. maintenance, fuel, insurance, etc.) totaled $40,000 for the year. The job he recently left (that he could return to if he wanted) to start his own lawn care business paid an annual salary of $50,000. How much economic profit did Mr. Tango earn this past year? Mr. Tango operates a lawn care service. This past year he earned $100,000 in revenue. His operating monetary costs (e.g.. maintenance, fuel, insurance, etc.) totaled $40,000 for the year. The job he recently left (that he could return to if he wanted) to start his own lawn care business paid an annual salary of $50,000. How much economic profit did Mr. Tango earn this past year? Mr. Tango operates a lawn care service. This past year he earned $100,000 in revenue. His operating monetary costs (e.g.. maintenance, fuel, insurance, etc.) totaled $40,000 for the year. The job he recently left (that he could return to if he wanted) to start his own lawn care business paid an annual salary of $50,000. How much economic profit did Mr. Tango earn this past year?
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Economic profit is the difference between a companys total revenue a... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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