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Embry-Riddle Aeronautical University - 10/W1 | ||
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 | Economics (Available Titles Aplia) (9th Edition) by Roger A. Arnold Hardcover, 826 Pages, Published 2008 ISBN-10: 0-324-59542-5 / 0324595425 ISBN-13: 978-0-324-59542-0 / 9780324595420 Second, Bob's profit is $3: (1) Bob pays $5 to Harry, so the $5 is a cost to Bob; (2) Bob receives $8 for the oranges he sells to Jim; (3) $8 in revenue minus $5 in costs leaves Bob with $3 profit. Third, Jim's profit is $2: (1) Jim pays $8 to Bob for the oranges, so the $8 is a cost to Jim; (2) | |