Refer to Scenario 7

question 86

Multiple Choice

Refer to Scenario 7.1 below to answer the question(s) that follow.
SCENARIO 7.1: You are the owner and only employee of a company that writes computer software that is used by gamblers to collect sports data. Last year you earned a total revenue of $90,000. Your costs for equipment, rent, and supplies were $60,000. To start this business you invested an amount of your own capital that could pay you a return of $40,000 a year.
-Refer to Scenario 7.1. Your economic profit last year was

• A) -$40,000.
• B) -$10,000.
• C) $10,000.
• D) $30,000.

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Definitions:

Encyclopedia

A comprehensive reference work containing information on a wide range of subjects or on numerous aspects of a particular field, usually arranged alphabetically.

Internet

A global network of computers that provides access to information, communication, and services across the world.

Microfilm

A photographic film format that is used to store miniature copies of documents for preservation and space saving.

Developmental Mismatch

Occurs when there is a discrepancy between an individual’s developmental needs and the opportunities, demands, or resources available in their environment.