Samantha has been working for a law firm and earning an annual salary of $80,000. She decides to openher own practice. Her annual expenses will include $15,000 for office rent, $3,000 for equipment rental,$1,000 for supplies, $1,200 for utilities, and a $35,000 salary for a secretary/bookkeeper. Samantha willcover her start-up expenses by cashing in a $20,000 certificate of deposit on which she was earningannual interest of $500. 6. Refer to above Scenario. According to an economist, which of the following total revenue will yieldSamantha's business $50,000 in economic profits?$55,200.$105.200.$132,500.$185,700.a.b.C.d.Answer:

6) Economic profits= Total revenue- explicit costs- implicit costs Explicit costs are the costs…

6. Refer to above Scenario. According to an economist, which of the following total revenue will yield Samantha's business $50,000 in economic profits? $55,200. $105 200. $132,500. d. a. b. C. $185 700. Answer:

6. Refer to above Scenario. According to an economist, which of the following total revenue will yield Samantha's business $50,000 in economic profits? $55,200. $105 200. $132,500. d. a. b. C. $185 700. Answer:

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter8: Cost Analysis

Section: Chapter Questions

Problem 3E

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