Answer in Microeconomics for Eva #112148
April 21st, 2023
Since the company’s revenue amounted to accounting profit plus obvious costs, we get $ 90,000.
Implicit costs include potentially lost profits from loss of wages (76,000), profit from renting out premises (15,000) and from money not placed in the bank at 8% (12000). Also, the funds spent on opening your own business (150,000). Total 313,000 dollars.
Then economic losses amount to 313000-90000 = 223000 dollars.