Question

Janelle owns a small hotel in San Francisco near Fisherman's Wharf. She pays $30,000 per year in insurance, $418,000 in wages, and $43,000 in supplies. She forgoes $30,000 per year she could make as a police officer. Her total revenue last year equaled $560,000. That means her economic _ equaled _. Question 10 options: profit; $9,000 losses; $9,000 losses; $39,000 profit; $39,000

Name: janelle owns a small hotel in san francisco near fishermans wharf she pays 30000 per year in insurance 418000 in wages and 43000 in supplies she forgoes 30000 per year she could make as a po 33316
Uploaded: 2024-03-03T10:00:05-08:00
Duration: 2 min 31 s
Channel: Narayan Hari
Description: janelle owns a small hotel in san francisco near fishermans wharf she pays 30000 per year in insurance 418000 in wages and 43000 in supplies she forgoes 30000 per year she could make as a po 33316

          Janelle owns a small hotel in San Francisco near Fisherman's Wharf. She pays $30,000 per year in insurance, $418,000 in wages, and $43,000 in supplies. She forgoes $30,000 per year she could make as a police officer. Her total revenue last year equaled $560,000. That means her economic _____ equaled _____.
Question 10 options:
profit; $9,000
losses; $9,000
losses; $39,000
profit; $39,000

Added by Sarah P.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Narayan Hari

03/03/2024

Step 1

Step 1: Calculate Janelle's total costs: Total costs = insurance + wages + supplies + opportunity cost Total costs = $30,000 + $418,000 + $43,000 + $30,000 Total costs = $521,000 Show more…

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Janelle owns a small hotel in San Francisco near Fisherman's Wharf. She pays $30,000 per year in insurance, $418,000 in wages, and $43,000 in supplies. She forgoes $30,000 per year she could make as a police officer. Her total revenue last year equaled $560,000. That means her economic _____ equaled _____. Question 10 options: profit; $9,000 losses; $9,000 losses; $39,000 profit; $39,000