Business, 24.04.2020 15:24 victoriakraus6599

Justin Brimer owns his own taxi, for which he bought a $20,000 permit to operate two years ago. Mr. Brimer earns $60,000 a year operating as an independent but has the opportunity to sell the taxi and permit for $73,000 and take a position as dispatcher for Carter Taxi Co. The dispatcher position pays $55,000 a year for a 40-hour week. Driving his own taxi, Mr. Brimer works approximately 55 hours per week. If he sells his business, he will invest the $73,000 and can earn a 10 percent return. Required a. Determine the opportunity cost of owning and operating the independent business. b-1. Calculate the earnings of Justin Brimer operating as an independent. b-2. Calculate the earnings of Justin Brimer working as a dispatcher.

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Justin Brimer owns his own taxi, for which he bought a $20,000 permit to operate two years ago. Mr....

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