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Janelle owns a small hotel in San Francisco near Fisherman's Wharf. She pays $30,000 per year in insurance, $418,000 in wages, and $43,000 in supplies. She forgoes $30,000 per year she could make as a police officer. Her total revenue last year equaled $560,000. That means her economic _____ equaled _____.

Sagot :

The profit that is earned by Janelle is equal to $39,000, considering all the payment and total revenue.

Calculation:

insurance payment = $30,000

Wages = $418,000

Supplies = $43,000

Amount forgone = $30,000

Total revenue = $560,000

Profit = $560,000-$30,000 -$418,000 - $43,000-$30,000 = $39,000

Profit is the term used to describe the financial gain experienced when the revenue from an economic business surpasses the expenses, ends up costing, and taxes associated with maintaining that activity.

Any profits generated are returned to the company's owners, who can decide whether to keep all the money for themselves, pay dividends to shareholders, or reinvest it in the company. The cash a company retains after deducting all costs is known as profit. The main objective of every company, whether it be a little fruit stand or a publicly traded multinational corporation, is to make money. As a result, a business's success is measured by its profitability in all of its forms.

Learn more about profit here:

https://brainly.com/question/29585616

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