Scenario 13-22 Suppose That a Small Hair Styling Salon Had Revenues of Revenues

question 13

Essay

Scenario 13-22
Suppose that a small hair styling salon had revenues of $150,000 in a given year. The owner spent $10,000 on utilities, $60,000 on supplies (shampoo, conditioner, hair coloring and other chemicals, etc.), and $50,000 on equipment (mirrors, chairs, scissors, curling irons, etc.), including maintenance. The owner could have earned $50,000 working at another salon.
-Refer to Scenario 13-22. What is the economic profit for the hair styling salon?

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Definitions:

Hypha

One of the threadlike filaments composing the mycelium of a water mold or fungus.

Fruiting Body

The spore-producing structure of fungi and other plants which is usually seen above ground.

Gametangium

A specialized organ or cell in which gametes are formed in algae, fungi, and plants.

Septa

Dividing walls or partitions between two spaces or cavities, often found in the body or in the structure of certain organisms.