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29 September, 12:20

Andrew left his role as an economist at the U. S Postal Service where he made $170,000 per year to start his own private economic consulting company. During his first year of private consulting, he made $35,000 in economic profit. If Andrew's clients paid him a total of $400,000 for his consulting services, then what must Andrew's accounting profit be?

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  1. 29 September, 13:54
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    Andrew's accounting profit is $205,000.

    Explanation:

    Earnings of Andrew when he worked as an economist: $170,000 per year

    Earnings made in his first year of private consulting: $35,000

    Total amount received for consulting services: $400,000

    Andrew's accounting profit = $170,000 + $35,000

     Andrew's accounting profit = $205,000
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Home » Business » Andrew left his role as an economist at the U. S Postal Service where he made $170,000 per year to start his own private economic consulting company. During his first year of private consulting, he made $35,000 in economic profit.
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