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 implicit costs?
A) $37,000
B) $50,000
C) $43,000
D) $93,000
E) $130,000
Correct Answer:
Verified
Correct Answer:
Verified
Q61: A firm has explicit costs of $100,000
Q62: With respect to the average cost curves,the
Q63: Which of the following reflects diseconomies of
Q64: Resources that can be increased or decreased
Q65: Exhibit 7.1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1208/.jpg" alt="Exhibit 7.1
Q67: Explicit costs are _<br>A)not part of opportunity
Q68: Implicit costs involve direct cash payments for
Q69: Increasing marginal returns are generally the result
Q70: When a firm is experiencing diminishing marginal
Q141: If a firm triples all of its