Answer to Question #153834 in Microeconomics for Mar

Question

Andris has started his own business. He has invested his capital- 40 000 in facilities. He rents premises for 5 000, pays salaries - 12 000, raw materials 20 000. 
Bank interest rate 10%. 
Revenue is 72 000. 
Determine costs and profits from the point of view of an accountant and an economist. Will Andris continue to run his business?

Answer 1

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