A dairy produces and sells organic milk. Last year it sold 500,000 gallons of milk at a price of $7 per gallon. For last year, the firm's
A) total revenue was $3.5 million.
B) economic profit was $3.5 million.
C) accounting profit was $3.5 million.
D) explicit costs were $3.5 million.
Correct Answer:
Verified
Q156: Bev is opening her own court-reporting business.
Q494: The market value of the inputs a
Q495: Billy's Bean Bag Emporium produced 300 bean
Q496: The value of a business owner's time
Q497: An example of an opportunity cost that
Q498: Which of the following statements is correct?
A)Opportunity
Q500: Profit is defined as
A)net revenue minus depreciation.
B)total
Q501: Patrice owns a travel agency. Her accountant
Q502: Which of the following would be an
Q503: Walter used to work as a high
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents