Estimate your weekly economic profit


Problem

You, your spouse, and your two teenage children own and run a small print shop. If each of you had worked at another print shop, you would earn $10 an hour. The four of you put in a total of 150 hours a week. If your accounting profit came to $1,000 a week, estimate your weekly economic profit.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Estimate your weekly economic profit
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