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Author Question: Harry's Hookahs incurs 700,000 per year in explicit costs and 500,000 in implicit costs. The company ... (Read 156 times)

lidoalex

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Harry's Hookahs incurs 700,000 per year in explicit costs and 500,000 in implicit costs. The company earns 1.4 million in revenues and has 3.7 million in net worth. Based on this information, what is the economic profit for Harry's Hookas?
 
  A) 200,000 B) 700,000 C) 900,000 D) 1.1 million

Question 2

Which of the following statements is used to justify protectionism?
 
  A) Free trade leads to higher prices for imported goods.
  B) Trade restrictions are not necessary to protect new firms since they can gain experience and become more productive without protection.
  C) A country should not rely on other countries for goods that are critical to its national defense.
  D) Free trade increases employment by protecting domestic firms.


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javimendoza7

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lidoalex

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it


dantucker

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Reply 3 on: Yesterday
Excellent

 

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