Audra runs a movie memorabilia website. Last year, she earned $$35,000$ in revenue and had explicit costs of $$8,000.$ Audra could have made $$42,000$ testing information security equipment and received an additional $$7,500$ if she had used the company's inputs in a different way. Calculate Audra$$s economic profit.

Answer rating: 100% (QA)

To calculate Audras economic profit we need to consider both explicit costs and opportunity costs ... View the full answer