07/ 29/21 10:19 PM hanges may OK. Assignment #7-chapter 10 O

Mnges ma orked: it Score: Qu stion 1 (1 stion 5 (1 stion 9 ( stion 13 estion 17 stion 21 estion 25 Assignment #7-chapter O 10 One year ago, Jack and Jill set up a vinegar-bottling firm (called JJVB). Question 10 Score: Oof I point Question Facts 1 Jack and Jill put $30,000 of their own money into the firm. They bought equipment for $60,000, 2. They hired one employee at annual wage Of 3. 95.000. Jack gave up his previous job, at which he 4. earned 90.000, and spent au his tirne working for JJVB. Jill kept her old job. which paid $25 an hour. 5. but gave up 10 hours of leisure each week (for 50 weeks) to work for JJVB. JJVB bought $20,000 of goods and services 6. from other firms. The market value of the equipment at the end 7. of the year was $55,000. 8. Jack and Jill have a $100,000 home ban on which they pay an interest rate of 5 percent a year. Save use the question facts to calculate JJVB's opportunity cost of production during its first year Of operation. JJVB's opportunity cost Of production during its first year of operation is $10.