Melanie sets up her own business. Her hair salon earns $10,000 in revenue a month. She spends $500 per month on supplies (shampoo, brushes, etc). Her tools depreciate at a rate of $600 annually. Before she started her own business, she previously earned $3,000 per month as a hairdresser in another salon. Her equipment is very specialized and has no other uses. What is Melanie’s economic profit per month?
Melanie sets up her own business. Her hair salon earns $10,000 in revenue a month. She spends $500 per month on supplies (shampoo, brushes, etc). Her…
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