A certain firm manufactures and sells computer chips.Last year it sold 2 million chips at a price of $10 per chip.For last year,the firm's
A) accounting profit amounted to $20 million.
B) economic profit amounted to $20 million.
C) total revenue amounted to $20 million.
D) explicit costs amounted to $20 million.
Correct Answer:
Verified
Q27: John has decided to start his own
Q97: Kirsten sells 300 glasses of lemonade at
Q99: Which of the following would be an
Q104: Jane decides to open her own business
Q105: Katherine gives piano lessons for $15 per
Q106: Katherine gives piano lessons for $20 per
Q497: An example of an opportunity cost that
Q508: Implicit costs
A)do not require an outlay of
Q518: An example of an explicit cost of
Q520: Explicit costs
A)do not require an outlay of
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