I HAVE 20 MIN - ASAP PLEASE! Fred's Grill Restaurant hires you to determine the...
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Accounting
I HAVE 20 MIN - ASAP PLEASE!
Fred's Grill Restaurant hires you to determine the company's status. He paid $85,000 for wages and $65000 for other expenditures on factors of production. His Total Revenue was $250,000. If he closed Grill Restaurant, he could work for his competitor and earn 30,000 per year. He also owns the building that houses Grill Restaurant and could rent it out for $20,000 per year if he closes his business. The numbers are in dollars. Match the following items with their corresponding values.
accounting cost
accounting profit
economic profit
economic cost
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