Darrell Is the Owner of a Furniture Store

question 28

Multiple Choice

Darrell is the owner of a furniture store.Last year,his total revenue was $525,000 and his total labor costs were $200,000.His overhead expenses,including insurance and legal fees,were $175,000.The rent on his building was $45,000.Darrell could earn $105,000 per year working at a nearby furniture distributor.If his total revenue increases to $600,000 this year and all of his other expenses are held constant,we know that his economic profit is now:

• A) $75,000.
• B) $600,000.
• C) $0.00.
• D) $105,000.
• E) $200,000.

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Definitions:

Genetics

The branch of biology that deals with heredity and variation in organisms, explaining how traits are passed from parents to offspring.

Social

Refers to activities, practices, or situations involving interaction among individuals within a society.

Brain Capacity

Refers to the volume or size of the brain, often related to cognitive ability, processing power, and information storage capabilities.

Solitary Life

A lifestyle choice or condition where an individual prefers or happens to spend most of their time alone, away from social interactions.