Sheila's Sports Shop is a very popular sporting goods store, which has a yearly revenue of 600,000. Sheila runs the business herself.
Her alternative employment options are to be a college swimming coach for 50,000 per year or a construction worker for 40,000 per year. Sheila spends 230,000 purchasing goods for resale to her customers. She also has four employees, who each earn 25,000 per year. Sheila owns the building that her Sports Shop is housed in and she could have rented it out for 20,000 per year. Sheila's costs for the resources that she supplies to the business equal A) 70,000 per year.
B) 90,000 per year.
C) 0 per year.
D) 330,000 per year.
Question 2
Which of the following shifts the supply curve of broccoli?
A) an increase in income
B) a newly discovered increase in the nutritional value of broccoli
C) a newly discovered link between broccoli consumption and tooth decay
D) the destruction of much of this year's broccoli crop by hurricanes
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