Bubba is a shrimp fisherman who catches 4,000 pounds of shrimp per year. He can sell the shrimp for $5 per pound. His average total cost of catching shrimp is $3 per pound. Bubba's annual total profit is
a. $8,000.
b. $12,000.
c. $20,000.
d. $32,000.
a
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The relationship between distance traveled in 5 hours and speed shown in the figure above is
A) direct, linear. B) inverse, linear. C) direct, non-linear. D) inverse, positive. E) direct, negative.
Answer the following question based on the data provided in the tables below for two hypothetical nations, Wat and Xat. The nations have the following production possibilities for rice and corn.Wat's Production Possibilities ABCDEFRice7506004503001500Corn050100150200250Xat's Production Possibilities ABCDEFRice2,5002,0001,5001,0005000Corn0100200300400500Which of the following statements about the two nations is correct based on the principle of comparative advantage?
A. Xat has a comparative advantage in the production of corn. B. Xat has a comparative advantage in the production of rice. C. Xat should specialize in the production of corn. D. Wat should specialize in the production of rice.
Constant dollar Gross Domestic Product (GDP)
A. is equal to real GDP multiplied by the overall price level. B. is the same as nominal Gross Domestic Product (GDP). C. is nominal Gross Domestic Product (GDP) divided by the price index. D. all of these.
People demand money for all of the following reasons EXCEPT
A. it is a store of value. B. it generates a rate of return. C. it is a medium of exchange to make payments. D. it can meet unplanned expenditures.