Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 11 Feb 2018 My Price 5.00

Aurora’s Orchid Emporium

The data in the table represents annual costs and revenue for Aurora’s Orchid Emporium. Aurora works 60 hours a week at the Orchid Emporium. Aurora owns the building that houses the Orchid Emporium, and if she closed the shop, she could rent out the building for $40,000 per year and go to work for Acme Flowers and earn a salary of $30,000 per year. Calculate the economic profit and economic cost for Aurora’s Orchid Emporium. Are these figures the same as the accounting cost and accounting profit? Explain.

Wages Paid

$ 22,000

Interest Paid on Loans

8,000

Other Expenditures for Factors of Production

26,000

Total Revenue

Answers

(5)
Status NEW Posted 11 Feb 2018 12:02 AM My Price 5.00

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