Stick Storage manufactures and sells computer flash drives. Last year it sold 2 million flash drives at a price of $10 each. For last year, the firm's
a. accounting profit was $20 million.
b. economic profit was $20 million.
c. total revenue was $20 million.
d. explicit costs was $20 million.
c
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A provision of the Affordable Care Act states that private insurance companies cannot deny coverage to anyone because of a preexisting medical condition
By offering health insurance to people with preexisting medical conditions, this provision eliminates ________ for both the insurance company and the policy holder, and eliminates ________ for the insurance company. A) moral hazard; asymmetric information B) asymmetric information; adverse selection C) asymmetric information; moral hazard D) adverse selection; moral hazard
Explain why a government may select an inefficient allocation
What will be an ideal response?