Joanne left her last job, in which she was earning $50,000, in order to form her own consulting business. Her revenues for the first year of consulting were $200,000
During that year, she hired two assistants for $25,000 each and spent $25,000 on office equipment. In addition, she incurred $75,000 in miscellaneous expenses. Her economic profit that first year was A) $0.
B) $50,000.
C) $200,000.
D) $75,000.
A
Economics
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The price of domestic goods in terms of foreign goods is referred to as
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