Suppose a firm has total revenue of 200 million, explicit costs of 190 million, and implicit costs ...

Suppose a firm has total revenue of 200 million, explicit costs of 190 million, and implicit costs of 20 million. This firm's accounting profit is:
a. 80 million.
b. 70 million.
c. 10 million.
d. 10 million.

QUESTION 2

Which of the following best describes a flow rather than a stock?
a. You own 5,000 worth of government bonds.
b. You own a 100,000 house.
c. You own a coin collection valued at 10,000.
d. You earn 500 per week.
e. You own a 45,000 automobile.

QUESTION 3

A characteristic of an oligopoly is:
a. mutual interdependence in pricing decisions.
b. independent pricing decisions.
c. lack of control over prices.
d. none of these.

QUESTION 4

A firm has 200 million in total revenue and explicit costs of 190 million. If its owners have invested 100 million in the company at an opportunity cost of 10 percent interest per year, the firm's accounting profit is:
a. 400 million.
b. 100 million.
c. 80 million.
d. 10 million.
e. zero.

QUESTION 5

Which of the following best describes a stock rather than a flow?
a. Each week, you save 100.
b. Each week, you buy 10 worth of gasoline.
c. Each week, you buy 50 worth of groceries
d. You earn 500 per week at your job.
e. You own 5,000 worth of government bonds.

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.

Suppose a firm has total revenue of 200 million, explicit costs of 190 million, and implicit costs ...

Related Topics