Home / Expert Answers / Economics / the-owner-of-quick-buy-a-variety-store-has-an-annual-revenue-of-600-000-each-year-they-pay-30-00-pa292

(Solved): The owner of Quick Buy a variety store has an annual revenue of $600,000. Each year, they pay $30,00 ...



The owner of Quick Buy a variety store has an annual revenue of $600,000. Each year, they pay $30,000 in rent for the store, $10,000 in business taxes, and $500,000 on products to sell. The owner estimates they could put the $100,000 they have invested in the store into a friend's restaurant business instead and earn an annual 20% profit on their funds. The owner also estimates that they and their family could earn a total annual wage of $90,000 if they worked somewhere other than the store. Include a minus sign (-) in front of any negative values entered as a solution below. a. The total explicit costs of running the store are $ . The total implicit costs of running the store are $ . b. The accounting profit of the variety store is $ . The economic profit of the variety store is $ . c. The owner consider closing down this business because he is making a



We have an Answer from Expert

View Expert Answer

Expert Answer


We have an Answer from Expert

Buy This Answer $5

Place Order

We Provide Services Across The Globe