Jeremy, a small business owner, earns can $50 an hour repairing boats.One afternoon he takes 5 hours off work to build a gazebo in his garden, spending $200 on materials.If the addition of a gazebo increases his home's value by $400, then his economic profit will be:
A) - $50
B) $0
C) $200
D) $400
Correct Answer:
Verified
Q84: A firm's variable costs divided by the
Q85: Graph 13-2 Q86: Graph 13-2 Q87: One assumption that distinguishes short-run cost analysis Q88: A sawmill processes logs into timber.Identify the Q90: Fixed costs can be defined as costs Q91: Average total cost is equal to: Q92: If a firm mothballs a factory so Q93: Graph 13-2 Q94: As the quantity produced increases: 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
A)average variable
A)average fixed cost
