The Reliable Auto Repair Shop is earning a total revenue of $7,000. Its total fixed costs are $700, and its total variable costs are $2,500. The Reliable Auto Repair Shop?s profit is
A. -$1,800.
B. $3,800.
C. $4,500.
D. $6,300.
Answer: B
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The problem with adopting a normal profit pricing policy for a natural monopoly is that ________.
A. profits will be positive B. losses will be large and sustained C. it is not allocatively efficient D. it is allocatively efficient
Country A is labor abundant relative to country B if it has a larger labor force than B's
Indicate whether the statement is true or false
The efficient markets hypothesis predicts that an investor
A) will not be able consistently to earn above-normal profits from buying or selling stocks. B) will be able consistently to earn above-normal profits from buying or selling stocks so long as he or she makes use of rational expectations. C) will be able consistently to earn above-normal profits from buying or selling stocks so long as he makes use of adaptive expectations. D) will be able consistently to earn above-normal profits so long as stock prices in general are rising.
Because of scarcity, we attempt to utilize our resources as efficiently as possible
a. True b. False Indicate whether the statement is true or false