Tuesday
April 21, 2015

Homework Help: Microeconomics

Posted by Anonymous on Monday, May 7, 2012 at 1:15pm.

3. Suppose that a business incurred implicit costs of $500,000 and explicit costs of $6 million in a specific year. If the firm sold 100,000 units of its output at $60 per unit, its accounting:
A) profits were $100,000 and its economic profits were zero.
B) losses were $500,000 and its economic losses were zero.
C) profits were $500,000 and its economic profits were $1 million.
D) profits were zero and its economic losses were $500,000.

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Economics - Suppose that a tour bus business incurred implicit costs of $600,000...
accounting - "Harris Company manufactures and sells a single product. A ...
FINANCE - Need help on this Study Problem. Chevy's Manufacturing has fixed costs...
Economics - 1) Lowering the price by 10%. What is the break-even level of ...
Math - The firm currently uses 70,000 workers to produce 300,000 units of output...
Economics - The firm currently uses 70,000 workers to produce 300,000 units of ...
Maths Algebra - The company produces specialised industrial air extraction units...
MIcroeconomics - Hi. THis is due Tuesday. I am working on it but can use some ...
Economics - Please help explain A manufacturer of motorcycle batteries has a ...
finance - Firm A has $10,000 in assets entirely financed with equity. Firm B ...

Members