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Teaching Since: Apr 2017
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    Northwest Florida State College
    Jun-1992 - May-1997

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    Northwest Florida State College,
    Aug-2006 - Nov-2015

Category > Economics Posted 03 May 2017 My Price 9.00

Jenny is considering starting a new business selling organic groceries

Jenny is considering starting a new business selling organic groceries. It would cost her $350,000 a year to rent store space and buy the groceries from a wholesaler, and she would have to quit her current job and give up a $70,000 annual salary.

a. What is Jenny’s opportunity cost of starting the business?

b. If Jenny can make an accounting profit of $50,000 a year selling the organic groceries, should she start the business?

 

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Status NEW Posted 03 May 2017 08:05 PM My Price 9.00

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