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dupoyjohn134 dupoyjohn134
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Posts: 536
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5 years ago

Question 1.

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 accounting profit for Donnie's Donuts?

• $150,000

• $350,000

• $600,000

• $1.2 million

Question 2.

Economic profit is the difference between a firm's revenue and its opportunity costs.

• true

• false
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
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urbacoreurbacore
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#1
Posts: 367
Rep: 44 0
5 years ago
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dupoyjohn134 Author
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5 years ago
You make an excellent tutor!
smi3
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Yesterday
this is exactly what I needed
joyceess
wrote...

2 hours ago
Good timing, thanks!
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