April quit her job as an accountant at Ernst and Young, where she was paid $45,000 per year. She started her own landscaping business. She rents machines and tools for $50,000 and pays $10,000 as wages to her hel
A) Her accountant calculates her profit as $40,000.
B) She has an economic loss.
C) Her explicit cost is $105,000.
D) Both answers A and B are correct.
E) Both answers A and C are correct.
D
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Answer the following statement true (T) or false (F)
What is the chain-weighted price index for GDP in the base year?
A) 0 B) 1 C) 100 D) The answer depends on the price index for the current year.
A 91-day $10,000 Treasury bill is selling for $9,000. The bill's coupon equivalent yield is __________ percent
A) 3.96 B) 4.46 C) 8.02 D) 10.0
What phrase best describes medical care spending in the United States in 1998?
a. Total spending of more than $2 trillion represents 17 percent of GDP and approximately $8,000 per capita. b. Total spending of more than $1 trillion represents 14.8 percent of GDP and almost $6,000 per capita. c. Total spending of less than $1 trillion represents less than 13 percent of GDP and almost $3,000 per capita. d. Total spending is rising at double-digit rates and spending is soaring to over $5,000 per capita. e. Total spending is under control and represents a shrinking percentage of GDP.