A business owner makes 1000 items a day.Each day he/she contributes 8 hours to produce those items.If hired,elsewhere he/she could have earned $250 an hour.The item sells for $15 each.Production does not stop during weekends.If the explicit costs total $150,000 for 30 days,the firm's accounting profit for the month equals:
A) $300,000
B) $60,000
C) $450,000
D) $240,000
Correct Answer:
Verified
Q2: Variable costs are
A)costs that vary with output
B)equal
Q3: Economic Value Added helps firms to avoid
Q4: James used $200,000 from his savings account
Q5: In the short-run:
A)All costs are variable
B)Some costs
Q6: A business owner makes 50 items a
Q7: A business owner makes 1000 items a
Q8: You and two partners start a company.However,your
Q9: After graduating from college,Jim had three choices,listed
Q10: The opportunity cost of an action:
A)is equal
Q11: Accountants and Economists differ in their calculations
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