Refer to Scenario 7.1 below to answer the question(s) that follow.
SCENARIO 7.1: You are the owner and only employee of a company that writes computer software that is used by gamblers to collect sports data. Last year you earned a total revenue of $90,000. Your costs for equipment, rent, and supplies were $60,000. To start this business you invested an amount of your own capital that could pay you a return of $40,000 a year.
-Refer to Scenario 7.1. During the year your economic costs were
A) $40,000.
B) $60,000.
C) $100,000.
D) $130,000.
Correct Answer:
Verified
Q2: The Wax Works sells 400 candles at
Q3: Perfectly competitive firms must make all of
Q4: Refer to Scenario 7.1 below to answer
Q5: You own a building that has four
Q6: Refer to Scenario 7.1 below to answer
Q7: Refer to Scenario 7.1 below to answer
Q8: Refer to the information provided in Figure
Q9: The Wax Works sells 400 candles at
Q10: The Oh So Humble Bakery sells 300
Q11: Refer to the information provided in Figure
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