InterviewSolution
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InterviewSolution
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Emily recently graduated with a B.A. ineconomics and was offered a job with a smallbut growingcompany for $38 400 per year. About thesame time, Emily inherited $60 000. Shedecided to pass up thejob and use her inheritance to purchase abubble tea shop rather than put the moneyinto a bond fund (asher uncle suggested), which would have paid5 percent per year interest. Emily works full-time at her newbusiness, and at the end of the year she hadrevenues of $81 000 and total explicit costs of$42 000.a. What was Emily's accounting profit or lossfor the year?b. What was her economic profit or loss forthe year? |
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