Jenny is considering starting a new business selling organic groceries. It would cost her $350,000 a year

Question:

Jenny is considering starting a new business selling organic groceries. It would cost her $350,000 a year to rent store space and buy the groceries from a wholesaler, and she would have to quit her current job and give up a $70,000 annual salary.
a. What is Jenny's of starting the business?
b. If Jenny can make an accounting profit of $50,000 a year selling the organic groceries, should she start the business? Opportunity Cost
Opportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...