Refer to Figure 15-4. What is the amount of the monopoly's profit?
A) 2,700 B) 4,200 C) 10,400 D) 12,600
Question 2
Max Shreck, an accountant, quit his 80,000-a-year job and bought an existing tattoo parlor from its previous owner, Sylvia Sidney. The lease has five years remaining and requires a monthly payment of 4,000. The lease
A) is a variable cost of operating the tattoo parlor.
B) is an implicit cost of operating the tattoo parlor.
C) is a fixed cost of operating the tattoo parlor.
D) is part of the marginal cost of operating the tattoo parlor.
Lewis symbols,(Figure 1)
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