Consider the Following Information About a Business Diane Opened Last

question 80

Multiple Choice

Consider the following information about a business Diane opened last year: price = $10,quantity sold = 25,000; implicit cost = $55,000; explicit cost = $160,000.What was Diane's accounting profit?

• A) $35,000
• B) $195,000
• C) -$35,000
• D) $90,000
• E) There is not enough information provided to answer this question.

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Definitions:

Gallons

A unit of volume used in the United States customary and British imperial systems, used mainly for measuring liquids.

Luncheon

A formal or informal meal taken in the middle of the day, typically involving a variety of foods.

Chef

A professional cook, often the head of a kitchen in a restaurant or hotel.

Feet

A unit of length in the imperial and US customary systems, equal to 12 inches or 0.3048 meters.