Thomas owns and operates an Electronics and Computer shop in Los Angeles.
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Thomas owns and operates an Electronics and Computer shop in Los Angeles. While Thomas has a Mechanical Engineering degree and could work for CISCO Systems Corp. earning $76,000 a year his true passion is managing his own shop. Below is a list of Reggie’s expenses for 2014. Use the following information to answer the questions: (show your work)
$95,000 | |
Rent | $15,000 |
Equipment cost | $4,200 |
Supplies | $2,750 |
What is Thomas’s Accounting Profit?
What is Thomas’s Economic Profit?
Given Thomas's economic profit why does he still decide to manage his own shop instead of working for CISCO?
11 years ago
Answer for: Thomas owns and operates an Electronics and Computer shop in Los Angeles.
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