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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)

Revenue in 2014

$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?

HR Management, Management Studies

  • Category:- HR Management
  • Reference No.:- M91622761

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