Violet purchased a tract of land for $100,000. she quit her $30,000-a-year job as a postal employee and opened a skeet shooting range on her land. the range generates $30,000 in net revenue after all day-to-day expenses have been covered. assume that the relevant discount rate is 10 percent. what is violet's business profit? what is her economic profit?

The Business profit = $30,000

Economic profit = Loss of $10,000

Explanation:

Data provided in the question:

Cost of land purchased = $100,000

Salary = $30,000

Revenue generated = $30,000

Discount rate = 10%

Now,

The Business profit =  Net revenue generated

i.e

The Business profit = $30,000

Economic profit

= Business profit  - Interest received on land - Implicit cost (i.e the salary)

or

Economic profit = $30,000 - 10% of $100,000 - $30,000

= - $10,000

here, the negative sign of the value of economic profit depicts the loss i.e there is loss of $10,000

client registration system, resource management system, clinical management system, patient information database, common use-system interface

explanation:

rational decision making is a multi-step process for making choices between alternatives. the process of rational decision making favors logic, objectivity, and analysis over subjectivity and insight. the word “rational” in this context does not mean sane or clear-headed as it does in the colloquial sense.

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