Refer to Scenario 9.7 below to answer the question(s) that follow. SCENARIO 9.7: Julio borrowed $80,000 from his great aunt to open a coffee stand at a local flea market. He agrees to pay his great aunt a 5% yearly return on the money she lent him. His other yearly fixed costs equal $16,000. His variable costs equal $60,000. He sold 50,000 cups of coffee during the year at a price of $3.00 per cup.Refer to Scenario 9.7. Julio's total revenue is

A. $60,000.
B. $80,000.
C. $100,000.
D. $150,000.


Answer: D

Economics

You might also like to view...

If d is the depreciation rate and K is the capital stock, the amount of investment required to keep the economy in a steady state is given by:

A) I = d - K. B) I = d + K. C) I = d × K. D) I = d/K.

Economics

A prohibitive tariff has

A) only revenue effects. B) only protective effects. C) both protective and revenue effects. D) neither protective nor revenue effects.

Economics

How does a government budget surplus or deficit influence the loanable funds market?

What will be an ideal response?

Economics

Voluntary exchange

A) will eliminate scarcity. B) is a nonprice rationing device. C) is trading so that the consumer and producers are better off. D) never involves transactions costs.

Economics