Business, 11.05.2021 17:50 Mw3spartan17

Entry, Exit, and Long Run Profitability — End of Chapter Problem You are considering opening a small flower store. You anticipate that you will earn $100,000 each year in revenue. It will cost you $30,000 each year to rent the space necessary to run your business. Additionally, you will need to spend $10,000 each year on flower seeds, utilities, and other expenses necessary to operate your flower shop. You have just graduated from college with a degree in economics and have received an offer to work for a firm with a yearly salary of $70,000. What is your anticipated economic profit of opening the flower shop? $
Based on this information, you open the flower store.

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Entry, Exit, and Long Run Profitability — End of Chapter Problem You are considering opening a small...