After graduation, you face a choice. you can work for a multinational consulting firm and earn a starting salary (benefits included) of $40,000, or you can start your own consulting firm using $5,000 of your savings, which you otherwise would have earned an interest return of 7 percent on. you choose to start your own consulting firm. at the end of the first year, you add up all of your expenses and revenues. your expenses include $14,000 in rent, $1,000 in office supplies, $24,000 for office staff, and $4,500 in telephone expenses. after operating your consulting firm for a year, your total revenues are $88,000. instructions: enter your answers as whole numbers. a. calculate your accounting profit. $ b. calculate your economic profit.

Identifying transactions national park tours co. is a travel agency. the nine transactions recorded by national park tours during may 2019, its first month of operations, are indicated in the following t accounts: cash (1) 75,000 (2) 900 (7) 8,150 (3) 1,600 (4) 6,280 (6) 2,700 (9) 2,500 accounts receivable (5) 12,300 (7) 8,150 supplies (2) 900 (8) 660 equipment (3) 8,000 accounts payable (6) 2,700 (3) 6,400 beth worley, capital (1) 75,000 beth worley, drawing (9) 2,500 fees earned (5) 12,300 operating expenses (4) 6,280 (8) 660 indicate for each debit and each credit (a) whether an asset, liability, owner's equity, drawing, revenue, or expense account was affected and (b) whether the account was increased (+) or decreased account debited account credited transaction type effect type effect (1) (2) (3) (4) (5) (6) (7) (8) (9)

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What would happen to the equilibrium price and quantity of lattés if the cost to produce steamed milk