A business owner makes 50 items by hand in six hours. She could have earned $10 an hour working for someone else. If each item sells for $5 and the explicit costs total $14, accounting profit for 50 items is:
A. $74.
B. $236.
C. $176.
D. $300.
Answer: B
You might also like to view...
Tickets to the Michigan-Notre Dame football game are usually sold out in advance of game day. This suggests that
a. the price of the tickets must be very high or else people would not consider them valuable
b. the price is set below the equilibrium level
c. the football stadium is relatively small
d. everyone who attends the game will enjoy it
e. the price is determined primarily by the fixed supply of tickets
The distributed lag model is given by
A) Yt = ?0 + ?1Xt + ?2Yt-1 + ut. B) Yt = ?0 + ?1Yt-1 + ?2Yt-2 + ... + ?rYt-r + ut. C) Yt = ?0 + ?1ut + ?2ut+1 + ?3ut+2 + ... + ?r+1ut+r + et. D) Yt = ?0 + ?1Xt + ?2Xt-1 + ?3Xt-2 + ... + ?r+1Xt-r + ut.
Refer to Figure 10.2. Which line represents earnings?
A. a
B. b
C. c
D. h
M1 consists of
A) currency only. B) currency plus travelers checks only. C) currency plus checkable deposits only. D) checkable deposits only. E) none of the above