Business, 12.07.2019 03:20, pinkycupcakes3oxbqhx
This problem has been solved! see the answerthe city of new orleans has 200 advertising companies, 199 of which employ designers of normal ability at a salary of $100,000 a year. the firms that employ designers of normal ability each collect $500,000 in revenue a year, which is just enough to ensure that each earns exactly a normal profit. however, the 200th company employs janus jacobs, an unusually talented designer. because of jacobs's talent, this company collects $700,000 in revenue a year. a. how much will jacobs earn? instruction: enter your response as an integer value. $ per year. what proportion of his annual salary will be economic rent? instruction: enter your response as a percentage rounded to the nearest whole number. %. b. will the advertising company for which jacobs works be able to earn an economic profit?
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