Kevin quit his $65,000 a year corporate lawyer job to open up his own law practice. In Kevin's first year in business his total revenue equaled $150,000. Kevin's explicit cost during the year totaled $85,000. Usi. his economic profit?
$85,000
$20,000
$0
$65,000
Kevin quit his $65,000 a year corporate lawyer job to open up his own law practice. In Kevin's first year in business his total revenue equaled $150,000.Kevin's explicit cost during the year totaled $85,000.Using the information from Kevin's first year in business,what is his economic profit?
$85,000
$20,000
$0
$65,000