Author Question: A business owner makes 50 items a day. Each day he/she contributes 8 hours to produce those items. ... (Read 78 times)

jace · **on:** Jul 1, 2018

A business owner makes 50 items a day. Each day he/she contributes 8 hours to produce those items. If hired, elsewhere he/she could have earned 10 an hour. The item sells for 10 each. Production does not stop during weekends. If the explicit costs total 10,00 . for 30 days, the economic profit for the month equals:
a. 2,600
b. 2,240
c. 11,760
d. 5,000

Question 2

Holding other things constant, decreases in the price level in the US will
a. Cause the dollar to appreciate
b. Cause the dollar to depreciate
c. Cause no change in dollar value
d. None of the above