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 temporary increase in income today leads to

A) a small increase in current consumption. B) a large increase in current consumption. C) a small decrease in future consumption. D) a large decrease in future consumption.

The kinked demand curve model explains pricing in monopoly markets

a. True b. False Indicate whether the statement is true or false