Question

1.Before Sarah quit her job as a carpenter, she was earning $35,000 per year. She rented a building for

$12,000 per year and opened a cabinet shop. 

She spends $148,000 per year for labor, materials, utilities, and advertising. 

◦How much revenue will the business have to earn in order to break even in terms of business profit?

◦How much revenue will the business have to earn in order to break even in economic terms?

◦Suppose that Sarah buys the building. Now how much will the business have to earn in order to break even in economic terms?

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