Heidi quit her job as a chef making $40,000 per year to start her own restaurant. The first year, Heidi's restaurant earned $100,000 in revenue. Heic$20,000 per year to buy food. What is Heidi's economic profit for the year?Select one:O a. $80,000Ob.$50,000Oc.-$10,000O d. $30,000 First year, Heidi's restaurant earned $100,000 in revenue. Heidi pays $50,000 per year in wages to the waitresses and hostess and

Heidi quit her job as a chef making $40,000 per year to start her own restaurant. The first year, Heidi's restaurant earned $100,000 in revenue. $20,000 per year to buy food. What is Heidi's economic profit for the year?

Heidi quit her job as a chef making $40,000 per year to start her own restaurant. The first year, Heidi's restaurant earned $100,000 in revenue. $20,000 per year to buy food. What is Heidi's economic profit for the year?

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Firms In Competitive Markets

Section: Chapter Questions

Problem 7PA

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Question

Heidi quit her job as a chef making $40,000 per year to start her own restaurant. The first year, Heidi's restaurant earned $100,000 in revenue. Heic
$20,000 per year to buy food. What is Heidi's economic profit for the year?
Select one:
O a. $80,000
Ob.$50,000
Oc.-$10,000
O d. $30,000

First year, Heidi's restaurant earned $100,000 in revenue. Heidi pays $50,000 per year in wages to the waitresses and hostess and

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