Karolina Owns a Small Diner,where She Works Full-Time in the Kitchen.Her

question 49

Multiple Choice

Karolina owns a small diner,where she works full-time in the kitchen.Her total revenue last year was $100,000,and her rent was $3,000 per month.She pays her one employee $2,000 per month,and the cost of ingredients and overhead averages $500 per month.Karolina could earn $35,000 per year as the manager of a competing diner nearby.Her total economic profit last year was

• A) $34,000.
• B) -$1,000.
• C) $20,000.
• D) $65,000.
• E) -$35,000.

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Definitions:

No-fault Approach

A legal framework where parties are compensated for damages or injuries regardless of fault or negligence.

Lindh v. Surman

A legal case ruling that addresses issues related to contracts, personal relationships, and commitments, often cited in discussions of legal obligations in intimate relationships.

Hotelkeeper

A person or entity that manages or owns a hotel.

Loss

The harm or suffering experienced due to injury, damage, or the loss of value, often quantifiable for purposes of compensation or insurance.