Tutor profile: Mike R.
Subject: Study Skills
Are you effectively managing your time for schools and extracurriculars?
As a Division 1 College Student-Athlete, I have learned to effectively manage my time in order to progress both in the classroom and in my sport.
Subject: Basic Math
Which numbers below are prime numbers? 2 3 4 5 6 7 8 9 10
The prime numbers are 2, 3, 5, and 7
Up until this month, Michael worked as a Tennis Coach earning 40,000 annually. He then inherited a piece of real estate that had been renting for 20,000 annually. Michael decided to quit his tennis coaching job and run a Thai restaurant in the space he inherited. At the end of the first year, his books showed total revenues of $300,000 and total costs of $190,000 for food, utilities, cooks, and other supplies. What is his economic profit after one year? A) $300,000 B) $40,000 C) $0 D) $50,000
The answer is D) $50,000. You add up the opportunity cost of $40,000 that Michael had been working as a tennis coach to the $20,000 the real estate had been renting for. You add up that sum to the total costs of $190,000 which equals to $250,000. Subtract $250,000 from his total revenues of $300,000 which leaves you with $50,000.
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