Suppose you have recently graduated and have been offered a salary position at a reputable accounting firm of $125,000 (including all benefits) per year. After much consideration, you turn down the offer to start your own accounting firm. You pay yourself $75,000 (including all benefits) a year. Which of the following represents the explicit opportunity cost of your time?
A) $75,000
B) $50,000
C) $100,000
D) $125,000
Correct Answer:
Verified
Q40: Total revenue is equal to
A)price x quantity
B)price
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