Veruca sells therapeutic bath salts on the Internet.Her annual revenue is $52,000 per year,the explicit costs of her business are $14,000,and the opportunity costs of her business are $17,000 per year.What are the implicit costs of her business?
A) $14,000
B) $17,000
C) $21,000
D) $31,000
Correct Answer:
Verified
Q190: Explicit costs are nonmonetary costs.
Q191: Implicit costs are _ and explicit costs
Q192: A nonmonetary opportunity cost is
A)an implicit cost.
B)an
Q193: A firm's accounting profit is measured as
A)revenue
Q194: Harry's Hookahs incurs $700,000 per year in
Q196: The Aristocrat Corporation has taken out a
Q197: If a firm has implicit costs as
Q198: An income statement shows a firm's revenue,costs,and
Q199: Assets minus liabilities equals
A)accounting profit.
B)economic profit.
C)net worth.
D)implicit
Q200: A firm's net income is also its
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