Kevin Coughlin, a lawyer working for a large law firm and earning$60,000 per year, is contemplating setting up his own law practice. Heestimates that renting an office would cost $10,000 per year, hiring alegal secretary would cost $20,000 per year, renting the required officeequipment would cost $ 15,000 per year, and purchasing the requiredsupplies, paying for electricity, telephone, and so forth would cost another45,000. The lawyer estimated that his total revenues for the year would$100,000, and he is indifferent between keeping his present occupationwith the large law firm and opening his own law office.1. How much would be the explicit costs of the lawyer for running hisown law office for the year?2. How much would be the accounting costs ? The implicit costs? Theeconomic costs?3. Should the lawyer go ahead and start his own practice?
We offer the best custom paper writing services. We have done this question before, we can also do it for you.
Why Choose Us
- 100% non-plagiarized Papers
- 24/7 /365 Service Available
- Affordable Prices
- Any Paper, Urgency, and Subject
- Will complete your papers in 6 hours
- On-time Delivery
- Money-back and Privacy guarantees
- Unlimited Amendments upon request
- Satisfaction guarantee
How It Works
- Click on the “Place Your Order” tab at the top menu or “Order Now” icon at the bottom and a new page will appear with an order form to be filled.
- Fill in your paper’s requirements in the "PAPER DETAILS" section.
- Fill in your paper’s academic level, deadline, and the required number of pages from the drop-down menus.
- Click “CREATE ACCOUNT & SIGN IN” to enter your registration details and get an account with us for record-keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.
- From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.
