Claudia worked as an accountant, earning $30,000 annually. Then she inherited a piece of commercial real estate
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Question:
Claudia worked as an accountant, earning $30,000 annually. Then she inherited a piece of commercial real estate that had been renting for $12,000 annually. Claudia decided to leave her job and operate a Mexican restaurant in that space. At the end of the first year, her total revenues of $260,000 and total costs of $230,000 for food, utilities, cooks, and other supplies. Her economic profit at the end of one year is
A. $230,000.
B. $30,000.
C. $20,000.
D. –$12,000.
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