Determine what are janes total revenues

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Janequit her job at IBM where she earned $50,000 a year. Shecashed in $50,000 in corporate bonds that earned 10% interestannually to buy a mini-bus. Jane has decided to buy themini-bus and set up a commuter service between Lincoln andOmaha. There are 1000 people who will pay $400 a year eachfor the commuter service; $280 from each person goes for gas,maintenance, insurance, depreciation, etc.

(a) Complete thefollowing questions: (1) What are Jane's totalrevenues? (2) What are Jane's explicit costs? (3)What is her accounting profit?

(b) List twoimportant implicit costs that Jane has not included.

Reference no: EM13244594

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