Question

Let s say you typically work at the Princess hotel in the summer earning $10/hour, 8 hours per day, for 100 days. In addition you work 25 overtime (at time-and-a-half) hours. Instead, you are entrepreneurial and decide to start a lawn mowing business factoring in the non-monetary benefits of sunlight, being outdoors and being your own boss. You mow 50 lawns 4 times each at $50/per lawn. Your costs are 1) $400 for a pro lawn mower, 2) 50 gallons of gas @ 3/gallon, 3) wages to your best friend who helps you of $10/hour for 30 hours (so you can have a little time for yourself to jet ski at Hardin

Answer 1

What's the question?? (not that I'll be able to answer...)

Answer 2

My fault. The main question is what is the economic and accounting profit?

Answer 3

Well, that's calculated by examining the different costs.
Accounting costs and economic costs are different.

Whilst economic costs tend to include all costs, including the owner's own cost, opportunity costs and accounting costs (such as wages and salaries), Accounting costs do not take into account the opportunity costs and costs which the owner is only accounting for...

You can check more between the difference if you don't already know.
Otherwise, see which of the costs this lady has for accounting costs and economic costs seperately and deduct the costs from the revenue she earns and you get your profit.