19 Gertrude quit her $40,000- per- year job to start her own own consulting firm. Shewithdrew her savings of $50,000 which was earning her an interest of $2000 in thebank and invested in her own consulting firm.entsAt the end of her first year of operation, her total revenues were $208,000.Her total explicit costs were $108,000. How much are her accounting profits fromher own consulting firm?O $50,000O $30,000O $100,000O $48,00021 O32ttvMacBook Pro

Implicit cost is the foregone income that could have been earned if resources were invested…

Gertrude quit her $40,000- per- year job to start her own own consulting firm. She withdrew her savings of $50,000 which was earning her an interest of $2000 in the bank and invested in her own consulting firm. At the end of her first year of operation, her total revenues were $208,000. Her total explicit costs were $108,000. How much are her accounting profits from her own consulting firm? O $50,000 O $30,000 O $100,000 O $48,000

Gertrude quit her $40,000- per- year job to start her own own consulting firm. She withdrew her savings of $50,000 which was earning her an interest of $2000 in the bank and invested in her own consulting firm. At the end of her first year of operation, her total revenues were $208,000. Her total explicit costs were $108,000. How much are her accounting profits from her own consulting firm? O $50,000 O $30,000 O $100,000 O $48,000

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 39P: A firm is considering an investment that will earn a 6 rate of return. If it were to borrow the...

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