Question by beemzet: Why start a new business when an economic profit is ZERO in a competitive markets?
Suppose I was working and was paid $ 50,000 a year.
Now, I decided to open a new business and earn no economic profit, right? But as you know, economic profit already includes my opportunity cost, which is $ 50,000. So, here I can conclude that I’m earning that $ 50,000 in a new business too…
My question is “What is the point of opening a new business?”.
Thanx
Best answer:
Answer by trashman474
In how much time? Where are you going to do this? You have to consider where, when, why, & HOW MUCH? Give it a chance. Is a dream u have? Marketing strategies? Dont worry, figure a game plan and work with it. Try it! Dont regret it by not doin it!
Know better? Leave your own answer in the comments!