Title: Which of the following statements is true? Post by: Canegang on Feb 27, 2018 Which of the following statements is true?
a. Economic profits ignore implicit costs. b. Economic profits include implicit costs. c. Accounting profits include all of the opportunity costs. d. Economists consider sunk costs in their decision making. QUESTION 2 James used 250,000 from his savings account that paid an annual interest of 15 to purchase a hardware store. After one year, James sold the business for 320,000 . What is his economic profit? a. 320,000 b. 70,000 c. 282,500 d. 32,500 QUESTION 3 Scott used 4,000,000 from his savings account that paid an annual interest of 5 to purchase a hardware store. After one year, Scott sold the business for 4,100,000 . His economic profits is: a. 300,000 b. 100,000 c. -100,000 d. -200,000 QUESTION 4 Scott used 4,000,000 from his savings account that paid an annual interest of 5 and a 60,000 loan at an annual interest rate of 5 to purchase a hardware store. After one year, Scott sold the business for 4,100,000 . His economic profits is: a. 300,000 b. 100,000 c. 97000 d. None. He runs an economic loss of 103,000 QUESTION 5 Scott used 4,000,000 from his savings account that paid an annual interest of 5 and a 60,000 loan at an annual interest rate of 5 to purchase a hardware store. After one year, Scott sold the business for 4,100,000 . His accounting profits is: a. 300,000 b. 100,000 c. 97,000 d. 20,000 Title: Which of the following statements is true? Post by: BeUniqueOrNot on Feb 27, 2018 Content hidden
Title: Which of the following statements is true? Post by: Canegang on Feb 27, 2018 Just confirmed the same answer from my friend, thanks
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