Heidi quit her job as a chef making $40,000 per year to start her own restaurant. the first year, heidi's restaurant earned $100,000 in revenue. heidi pays $50,000 per year in wages to the waitresses and hostess and $20,000 per year to buy food. what is heidi's profit as measured by an accountant for the year?

The accounting profit is $30,000.

Explanation:

The implicit cost of running the restaurant is the opportunity cost of giving up a salary of $40,000 per year working as a chef.  

The revenue earned from the restaurant is $100,000.  

The explicit costs is  

= $50,000 + $20,000

= $70,000  

An accountant will consider only the accounting cost or explicit cost in the calculation of profits.  

Accounting profit

= Total revenue - Explicit costs

=  $100,000 - $70,000  

= $30,000  

yup the answer is

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