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Business, 21.04.2020 04:41 Kaylaonfleek0956

Ralph owns a small pizza restaurant, where he works full-time in the kitchen. His total revenue last year was $100,000, and his rent was $3,000 per month. He pays his one employee $2,000 per month, and the cost of ingredients and overhead averages $500 per month. Ralph could earn $35,000 per year as the manager of a competing pizza restaurant nearby. His total economic profit for the year was:
a. –$35,000.
b. –$1,000.
c. $20,000.
d. $34,000.
e. $65,000.

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