Question 3 Suppose Professor Donald spends $5,000 per year on tax supplies and Cube Smart storage sp

Question 3

Suppose Professor Donald spends $5,000 per year on tax supplies and Cube Smart storage space He recently received two job offers from a XYZ marketing firm- one offer were for $ 60,000 per year, and the other was for $50,000 However, she turned both jobs down to continue her tax preparation business and storage firm If Donald sells 10 paintings per year at a price of $9,000 each:

What is her total revenue? Explain

What are her accounting profits? Show work

What are her economic profits? Show work

Which type of profit ( accounting or economic profit) reflects the best use of her time? Explain

 

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