Harvey Quit His Job at the University of Toronto Where

question 82

Multiple Choice

Harvey quit his job at the University of Toronto where he earned $45,000 a year,the same as other employees of normal ability,the same as other employees of normal ability.But Harvey is unusually talented in another area,and he figures his entrepreneurial talent,or forgone entrepreneurial income,to be $5000 a year.He cashed in $100,000 in bonds that earned 10% interest annually to buy a software company,Extreme Gaming.In the first year,the firm sold 11,000 units of software at $75 per unit.Of the $75 per unit,$55 goes for the costs of production,packaging,marketing,employee wages and benefits,and rent on a building.
-Refer to the above information.The normal profit in the first year was

• A) $5000.
• B) $10,000.
• C) $45,000.
• D) $60,000.
• E) $250,000.

Understand wire gauge sizes and their implications for electrical systems.

Define voltage and its equivalent terms in electrical contexts.

Explain the concept of an atomic number and how it differentiates elements.

Describe the characteristics and behavior of electrons within an atom.

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price, within a specific time period.

Price

The financial quantity seen as necessary, expected, or provided in return for something.

Demand Curve

A graphical representation showing the relationship between the price of a good and the amount of it that consumers are willing and able to purchase at various prices.

Quantity Demanded

The volume of a good or service that purchasers have the willingness and financial ability to acquire at a certain price.