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Business, 09.04.2021 04:00 juliopejfuhrf5447

Neville is a lawyer at a large law firm where he earns a salary of $170,000 per year. He is thinking of leaving the firm to set up his own law office. To do this, he would need to invest $140,000 of his savings, which currently earns 5% in interest each year. He estimates that if he starts a law office, his annual revenue will be $510,000, and his explicit financial costs will be $300,000. How much would Neville earn in economic profits or losses if he starts his own law office

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Neville is a lawyer at a large law firm where he earns a salary of $170,000 per year. He is thinking...

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