You are considering quitting your job where you earn $3,400 per month and opening a new business. The cost of renting an office is $2,200 per month, hiring employees would cost $3,300 per month, and utilities would cost $200 per month. The new business will earn a total revenue of $6,200 per month. What is your economic profit per month?

Answer rating: 100% (QA)

To calculate your economic profit you need to consider both the revenue generated by your business a... View the full answer