Multiple Choice
Harvey develops gaming apps from home instead of working as an engineer and earning $50,000 a year.He has invested $20,000 to upgrade to the hardware that he needs and estimates his expenses at $17,000 a year.Downloads generated $130,000 in revenue during the first year.What are his explicit costs?
A) $37,000
B) $50,000
C) $43,000
D) $93,000
E) $130,000
Correct Answer:

Verified
Correct Answer:
Verified
Q7: The least-cost way of producing each particular
Q8: Suppose a soccer coach has been making
Q9: Table 7.2<br> <span class="ql-formula" data-value="\begin{array}
Q10: Exhibit 7.4<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1208/.jpg" alt="Exhibit 7.4
Q11: Fixed costs are defined as _<br>A)the total
Q14: Table 7.4<br> <span class="ql-formula" data-value="\begin{array}
Q15: If a firm has explicit costs of
Q16: Which of the following statements is true?<br>A)If
Q80: Which economic concept explains why a large
Q216: In the short run, all costs are