Multiple Choice
James used $200,000 from his savings account that paid an annual interest of 10% to purchase a hardware store.After one year,James sold the business for 300,000. His economic profit is:
A) $300,000
B) $100,000
C) $80,000
D) $20,000
Correct Answer:
Verified
Correct Answer:
Verified
Q49: A business incurs the following costs per
Q50: You are at an all-you-can-eat-buffet.You feel almost
Q51: Wealthy professors are more likely to shop
Q52: A business incurs the following costs per
Q53: A hidden cost fallacy can be avoided<br>A)by
Q55: Scott used $4,000,000 from his savings account
Q56: A company invested $400,000 in a technology
Q57: Fixed costs are<br>A)costs that vary with output<br>B)always
Q58: After graduating from college,Jim had two choices.He
Q59: When a firm ignores the opportunity cost