This topic contains a solution. Click here to go to the answer

Author Question: Jake sells Star Wars memorabilia on eBay. His annual revenue is 42,000 per year, the explicit costs ... (Read 80 times)

luvbio

  • Hero Member
  • *****
  • Posts: 623
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.


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
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
Great answer, keep it coming :)


AmberC1996

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

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.

For a complete list of videos, visit our video library