Question 1
The Wax Works sells 500 candles at a price of $5 per candle. The Wax Worksʹ total economic costs for producing 500 candles are $3,000. The Wax Worksʹ economic profit is
◦ -$3,000.
◦ -$500.
◦ $2,500.
◦ $3,000.
Question 2
The Wax Works sells 500 candles at a price of $5 per candle. The Wax Worksʹ total economic costs for producing 500 candles are $3,000. The Wax Worksʹ economic profit is
◦ -$3,000.
◦ -$500.
◦ $2,500.
◦ $3,000.