Exhibit 7-1 Sally Owns a Small Business That She

question 105

Multiple Choice

Exhibit 7-1 Sally owns a small business that she operates in a small building she owns.Given the information in Exhibit 7-1, Sally's economic profit is

• A)$80, 000
• B)$50, 000
• C)$65, 000
• D)$35, 000
• E)$24, 000

---

Definitions:

Proposal

A formal suggestion or plan put forward for consideration or discussion by others.

Deliverables

Tangible or intangible outputs or outcomes that must be provided upon completion of a project or task.

Tangible Product

A physical item that can be perceived by touch and is produced for sale or use.

Service

The act of helping or doing work for someone, or a system supplying a public need such as transport, communications, or utilities.