Now consider the employer’s total costs. these include the equipment costs as well as a normal profit of $50 per acre. if the firm pays workers the minimum wage of $6.20 per hour, what will the firm’s economic profit or loss be per acre?

The firm’s (choose one): loss per acre will be $ 192

Explanation:

Instructions: Enter only whole numbers for your answer. Enter a positive number after identifying profit or loss.

Wage to workers = 160 hrs x $6.20

                          = $992

Equiptment costs = $150 per month

Normal profit required = $50

Total cost = $992+ $150 +$ 50

               = $1192

Total revenue per month = $1000

Profit = Total revenue per month - Total cost

        = $1192-$1000

       = -$192

answer; i believe the correct answer is (a) purchase of treasury stock;