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Biraj Biraj
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5 years ago

Question 1.

A nonmonetary opportunity cost is called a(n) ________, while a cost that involves spending money is called an ________.

• accounting cost; explicit cost

• implicit cost; explicit cost

• accounting profit; economic profit

• normal rate of return; asset

Question 2.

Donnie's Donuts incurs $450,000 per year in explicit costs and $200,000 in implicit costs. The bakery earns $800,000 in revenues and has $2 million in net worth. Based on this information, what is the economic profit for Donnie's Donuts?

• $150,000

• $350,000

• $600,000

• $1.2 million
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
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jrhome1985!jrhome1985!
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Biraj Author
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5 years ago
This site is awesome!
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5 years ago
Slight Smile Good luck on the rest
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