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Question - Janet spends $20,000 per year on painting supplies and storage space. She recently received two job offers from a famous marketing firm- one offer were for $100,000 per year, and the other was for $90,000. However, she turned both jobs down to continue a painting career. If Janet sells 25 paintings per year at a price of $8,000 each:

a. What are her accounting profits? Show your steps leading to your answer

b. What are her economic profits? Show your work!

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M93118730

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