Use the Information Below to Answer the Following Questions

question 18

Multiple Choice

Use the information below to answer the following questions.
Fact 11.4.1
Franklin is a fiddlehead farmer.He sold 10 bags of fiddleheads last month,with total fixed cost of $100 and total variable cost of $50.
-Refer to Fact 11.4.1.If the price of fiddleheads last month was $15 per bag,Franklin

• A)should have shut down because total revenue did not cover total variable cost.
• B)incurred an economic loss of $135.
• C)made zero economic profit.
• D)made an economic profit of $50.
• E)made an economic profit of $100.

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Definitions:

Example

A representative instance or case that is typical of a group or set, used to illustrate or explain a topic.

Social Loafing

The tendency of individuals to put forth less effort when working in a group than when working alone.

Instrumental Aggression

A type of aggression aimed at achieving a goal, such as obtaining a desired object or status, rather than merely causing harm for its own sake.

Real-life Example

An instance or occurrence from everyday life used to illustrate or explain a concept, phenomenon, or problem.