Top Posters
Since Sunday
s
3
v
3
p
3
m
2
s
2
d
2
N
2
d
2
e
2
s
2
s
2
e
2
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
Villerys39 Villerys39
wrote...
Go to Answer
Posts: 476
Rep: 12 0
5 years ago

Question 1.

Which of the following is an example of an implicit cost that a firm might incur?

• the out-of-pocket expense to hire resources

• taxes owed to the state and Federal governments

• the rental value of the office space the company owns and uses for itself

• the revenue a firm generates in using its resources

Question 2.

Laura's Pizza Place incurs $800,000 per year in explicit costs and $100,000 in implicit costs. The restaurant earns $1.3 million in revenues and has $5 million in net worth. Based on this information, what is the economic profit for Laura's Pizza Place?

• $200,000

• $400,000

• $500,000

• $2.8 million
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
Read 98 times
1 Reply
Replies
Answer verified by a subject expert
JaxJax
wrote...
#1
Posts: 369
Rep: 63 0
5 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here

Related Topics

Villerys39 Author
wrote...

5 years ago
Thanks
decibul
wrote...

Yesterday
this is exactly what I needed
my life
wrote...

2 hours ago
Good timing, thanks!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1083 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 154
  
 331
  
 469
Your Opinion
Who will win the 2024 president election?
Votes: 119
Closes: November 4
Previous poll results: Who will win the 2024 president election?