Curly told Larry about his new business venture: Curly pays Acme International $1,000 per month for supplies and access to Acme's network,works out of his own apartment on his own computer and earns monthly revenues of $1,500.Should Larry quit his job and do what Curly is doing?
A) Yes,if Larry has at least $1,000 in savings to get started.
B) Not if Larry is earning more than $500 per month at his current job.
C) Yes,if Larry can borrow the $1,000 monthly payment for less than 3% interest.
D) Yes,if Larry already owns a computer.
Correct Answer:
Verified
Q5: The economic theory of business behavior assumes
Q6: Adam Smith coined the term "invisible hand"
Q7: Normal profits occur when:
A)accounting profits are positive.
B)economic
Q8: Economic profits are:
A)the same as accounting profits.
B)equal
Q9: If you were to start your own
Q11: Explicit costs:
A)measure the opportunity costs of the
Q12: Implicit costs:
A)are always fixed.
B)measure the forgone opportunities
Q13: If a firm is earning zero economic
Q14: Chris was the business manager for a
Q15: An example of an implicit cost is:
A)interest
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