Tanesha sells homemade candles over the Internet. Her annual revenue is $64,000 per year, the explicit costs of her business are $17,000, and the opportunity costs of her business are $22,000. What is her accounting profit?
A) $17,000 B) $22,000 C) $47,000 D) $64,000
C
You might also like to view...
If the Fed wishes to reduce nominal interest rates, it must engage in an open market ________ of bonds to ________ the money supply.
A. sale; decrease B. purchase; decrease C. sale; increase D. purchase; increase
An industry's long-run supply curve shows
A) the relationship in the long run between market price and quantity supplied. B) greater than normal profit. C) how average productivity is changing. D) how the government determines the price of the product.
Assume a firm is producing 1000 units of a good by using two inputs, capital and labor, whose per unit prices are $50 and $20
Assume also that the marginal physical product of the last unit of capital is 25 and the marginal physical product of the last unit of labor is 15. In order to minimize its costs of production, the firm should adjust its combination of inputs by employing more labor and less capital. Indicate whether the statement is true or false
Countries that came together by treaty to form the General Agreement on Tariffs and Trade (GATT) agreed to treat all members equally with respect to trade, impose high tariffs on non-GATT countries, and impose low import quotas on non-GATT countries
Indicate whether the statement is true or false