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 43 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
Thanks for the timely response, appreciate it

cici

  • Member
  • Posts: 325
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Model of a Neutron Star’s Interior Model of a Neutron Star’s Interior
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
On March 25, 1911, as scores of young factory girls leaped to their deaths from the eighth, ninth, a On March 25, 1911, as scores of young factory girls leaped to their deaths from the eighth, ninth, a
In plant fossils, leaf margin is used to estimate mean annual temperature In plant fossils, leaf margin is used to estimate mean annual temperature
Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ... Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ...
Kindergarten school year book Kindergarten school year book
Video: Primary and secondary response to infection

For a complete list of videos, visit our video library