Lintell Inc. earned a total revenue of $9.3 million and incurred an explicit cost of $3.6 million for the financial year 2013-14. The owner of the company could earn an annual salary of $0.5 million if he joined another firm. Lintell Inc.'s economic profit for 2013-14 was:
A) $5.2 million.
B) $5.7 million.
C) $8.8 million.
D) $5.5 million
E) $5.3 million.
Correct Answer:
Verified
Q27: Economic profits are calculated after taking into
Q28: An explicit cost is:
A)an opportunity cost for
Q29: An example of an implicit cost of
Q30: David was taken to a concert by
Q31: An implicit cost is:
A)an opportunity cost to
Q33: When long-run average total cost does not
Q34: When a firm makes zero economic profit,
Q35: private costs are included in economic profit
Q36: Lintell Inc. earned a total revenue of
Q37: he minimum efficient scale is the level
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