Had you worked on an hourly job instead

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Question: You start a website design business. You use $6,000 of your own money to pay for deposits which you expect to get back. After one year, you have generated $24,000 in revenue and incurred $7,000 in financial costs. Had you worked on an hourly job instead, you would have earned $33,000. Had you invested the $6.000 in your friend's business, which was very successful, you would have recieved $7,000 back with earnings of $1,000. Your economic profit for this first year is:

Reference no: EM133442417

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