Business, 15.07.2019 22:20, luccasmith6764

Gomez runs a small pottery firm. he hires one at $15,500 per year, pays annual rent of $5,500 for his shop, and spends $21,000 per year on materials. he has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth) that could earn him $6,500 per year if alternatively invested. he has been offered $20,500 per year to work as a potter for a competitor. he estimates his entrepreneurial talents are worth $7,000 per year. total annual revenue from pottery sales is $87,000. calculate the accounting profit and the economic profit for gomez.

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Gomez runs a small pottery firm. he hires one at $15,500 per year, pays annual rent of $5,500 for h...