Donnie's Donuts incurs $450,000 per year in explicit costs and $200,000 in implicit costs. The bakery earns $800,000 in revenues and has $2 million in net worth. Based on this information, what is the accounting profit for Donnie's Donuts?

A lesson from the Brazilian experiment was that:

a. infant industry protection is almost never successful. b. there are many determinants other than market price that also factor into an industry's success—firms had supplier difficulties and were hampered by excessive regulation. c. government usually knows better than the market whether an industry has potential. d. when politicians get involved, rational decisions and good business practices are more difficult.

The above figure shows supply and demand curves for milk. In an effort to help farms, the government passes a law that establishes a $3 per gallon price support, but allows farmers to decide how much milk to produce

The government then provides a deficiency payment to guarantee that the farmers receive $3 per gallon. The required deficiency payment equals A) b + c + f + g + h + i + j. B) b + c + f + g + h + i. C) f + g. D) b + c.