Suppose Ernie gives up his job as financial advisor for P.E.T.S., at which he earned $30,000 per year, to open up a store selling spot remover to Dalmatians. He invested $10,000 in the store, which had been in savings earning 5 percent interest. This year's revenues in the new business were $50,000 . and explicit costs were $10,000 . Calculate Ernie's accounting profit
a. $10,000
b. $50,000
c. $20,000
d. $40,000
e. $9,500
D
Economics
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Total cost schedule for a competitive firm: 
If market price is $30, how many units of output will the firm produce?
A. 0, the firm shuts down B. 1 C. 2 D. 3 E. 4
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