This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Jake sells Star Wars memorabilia on eBay. His annual revenue is 42,000 per year, the explicit costs ... (Read 76 times)

luvbio

  • Hero Member
  • *****
  • Posts: 623
on: Jun 29, 2018
Jake sells Star Wars memorabilia on eBay. His annual revenue is 42,000 per year, the explicit costs of his business are 10,000, and the opportunity costs of his business are 18,000 per year. What is his economic profit?
 
  A) 14,000 B) 24,000 C) 32,000 D) 34,000

Question 2

Because Coke and Pepsi are substitutes, a decrease in the price of Pepsi will cause the demand for Coke to decrease.
 
  This initial shift in demand for Coke results in a lower price for Coke; this lower price will cause the demand curve for Coke to shift to the left. Which of the following correctly comments on this statement?
  A) The statement will be true if consumer tastes for Coke and Pepsi do not change.
  B) The statement is false because Pepsi is an inferior good; Coke is a normal good.
  C) The statement is false because one cannot assume that Coke and Pepsi are substitutes for all consumers.
  D) The statement is false because a change in the price of Coke would not change the demand for Coke.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lkoler

  • Sr. Member
  • ****
  • Posts: 358
Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 30% of students answer this correctly


luvbio

  • Member
  • Posts: 623
Reply 2 on: Jun 29, 2018
:D TYSM

Dnite

  • Member
  • Posts: 297
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Star Map Southern Horizon Star Map Southern Horizon
Effects of Therapy for Stuttering A functional MRI scan shows regions of the superior temporal lobe Effects of Therapy for Stuttering A functional MRI scan shows regions of the superior temporal lobe
Chinese workers on a railway in the far West. “Without them,” Leland Stanford, president of the Cent Chinese workers on a railway in the far West. “Without them,” Leland Stanford, president of the Cent
CT imaging of glioblastoma in a 6-year-old girl. CT imaging of glioblastoma in a 6-year-old girl.
The average weight gain between Thanksgiving and New Year's Day is about a pound The average weight gain between Thanksgiving and New Year's Day is about a pound
A company that makes environmental measuring devices has calculated their revenue and costs as ... A company that makes environmental measuring devices has calculated their revenue and costs as ...
Video: The pH scale - Strong acids and Weak acids

For a complete list of videos, visit our video library