Multiple Choice
Refer to Scenario 7.4 below to answer the question(s) that follow.
SCENARIO 7.4: You own and are the only employee of a company that sells custom embroidered pet sweaters.
Last year your total revenue was $120,000. Your costs for equipment, rent, and supplies were $30,000.
To start this business you invested an amount of your own capital that could pay you a $50,000 a year return.
-Refer to Scenario 7.4. A yearly normal return for your company would be
A) $40,000.
B) $50,000.
C) $70,000.
D) $90,000.
Correct Answer:

Verified
Correct Answer:
Verified
Q117: Refer to the information provided in Figure
Q118: Refer to the information provided in Figure
Q119: Refer to Scenario 7.7 below to answer
Q120: Refer to the information provided in Figure
Q121: Use the information provided in Table
Q124: Refer to Scenario 7.3 below to answer
Q125: Use the information provided in Table
Q126: Refer to the information provided in Figure
Q127: Profit is equal to<br>A) marginal revenue minus
Q266: The formula Δq/ΔL represents<br>A) total product.<br>B) the