April quit her job as an accountant at Ernst and Young, where she was paid $45,000 per year. She started her own landscaping business. She rents machines and tools for $50,000 and pays $10,000 as wages to her hel
A) Her accountant calculates her profit as $40,000.
B) She has an economic loss.
C) Her explicit cost is $105,000.
D) Both answers A and B are correct.
E) Both answers A and C are correct.
D
Economics
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New growth theory supports the idea that
I. economic growth can continue as long as we keep finding new ideas. II. increases in human capital can lead to greater rates of economic growth. A) I only B) II only C) Both I and II D) Neither I nor II
Economics
Assume that when price is $20, quantity demanded is 9 units, and when price is $19, quantity demanded is 10 units. Based on this information, what is the marginal revenue resulting from an increase in output from 9 units to 10 units?
A) $20 B) $19 C) $10 D) $1
Economics