Aimee sells hand-embroidered dog apparel over the Internet. Her annual revenue is $128,000 per year, the explicit costs of her business are $42,000, and the opportunity costs of her business are $30,000. What is her accounting profit?
A) $12,000
B) $56,000
C) $86,000
D) $98,000
Answer: C
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Investment spending accounts for nearly 60 percent of U.S. GDP.
Answer the following statement true (T) or false (F)
Marginal profit is equal to
A) marginal revenue minus marginal cost. B) marginal revenue plus marginal cost. C) marginal cost minus marginal revenue. D) marginal revenue times marginal cost. E) marginal revenue divided by marginal cost.
Which of the following is concerned primarily with mergers?
a. The Sherman Antitrust Act. b. The Clayton Act. c. The Robinson-Patman Act. d. The Celler-Kefauver Act.
Economic losses caused several firms to leave the car wash business in Portland, Oregon. Though prices have risen, firms are still leaving the industry. Apparently: a. economic profits exist but they are not as high as in other industries
b. economic profits are zero and firms won't stay in the industry if they are not earning an economic profit. c. firms are still generating economic losses. d. economic profits have decreased because of the exit of existing firms.