Bev is opening her own court-reporting business. She financed the business by withdrawing money from her personal savings account. When she closed the account, the bank representative mentioned that she would have earned $300 in interest next year. If Bev hadn't opened her own business, she would have earned a salary of $25,000 . In her first year, Bev's revenues were $30,000 . and she spent
$1,000 on materials and supplies. Which of the following statements is correct?
a. Bev's total explicit costs are $26,300.
b. Bev's total implicit costs are $300.
c. Bev's accounting profits exceed her economic profits by $300.
d. Bev's economic profit is $3,700.
d
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The purpose of a financial sector is ________
A) to minimize the payments firms make to state and local governments B) to maximize the payments firms make to state and local governments C) to channel funds away from households and firms with surplus funds D) to channel monies into socially acceptable causes
With reference to the operations of the ABB Group discuss the functioning of matrix form organizations
A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock. B. long-run demand shock. C. long-run supply shock. D. short-run demand shock.
In New York City, apartment rent can be adjusted only when a tenant leaves. This leads
A) people to change apartments often. B) landlords to encourage tenants to stay in their apartments. C) tenants to stay in apartments longer than they would otherwise. D) businesses to build new rental units.