A business produces eight items and sells them for $25 each. The total cost of producing the items is $190 for explicit costs and $200 for implicit costs. Accounting profit is:

What are private property rights? Does enforcement of property rights promote economic growth and prosperity?

What will be an ideal response?

Refer to Table 4-13. The equations above describe the demand and supply for Aunt Maud's Premium Hand Lotion. What are the equilibrium price and quantity (in thousands) for Aunt Maud's Lotion?

A) $60 and 30 thousand B) $20 and 60 thousand C) $30 and 20 thousand D) $20 and 30 thousand