Suppose your coffee shop earns $250,000 in total revenues per month with explicit costs of $150,000 and opportunity costs of $100,000. Your economic profit is
A. $120,000.
B. zero.
C. $50,000.
D. $160,000.
Answer: B
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The monetary base is equal to the sum of coins,
A) currency and banks' reserves at the Federal Reserve. B) currency and checkable deposits at banks. C) currency, banks' reserves at the Federal Reserve and checkable deposits at banks. D) and checkable deposits at banks. E) U.S. government securities owned by the Federal Reserve and Federal Reserve notes.
The collapse of the Bretton Woods system marked
A) the end of floating exchange rates and a move to fixed exchange rates. B) marked the end of fixed exchange rates and a move to floating exchange rates. C) the beginning of the gold standard. D) a plunge in the price of gold. E) the elimination of paper currencies.
The market produces too little of a good with ______.
a. adverse selection b. negative externalities c. positive externalities d. asymmetric information
Suppose the demand for pizza in a small isolated town is p = 10 - Q. There are only two firms, A and B, and each has a cost function TC = 2 + q. Determine the Cournot equilibrium
What will be an ideal response?