A Business Produces Eight Items and Sells Them for $25

question 152

Multiple Choice

A business produces eight items and sells them for $25 each. The total cost of producing the items is $190 for explicit costs and $200 for implicit costs. Accounting profit is:

• A) −$190.
• B) $10.
• C) $20.
• D) $200.

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Definitions:

Positive Emotions

Feelings that are generally beneficial to well-being and happiness, such as joy, gratitude, serenity, and interest.

Inflexible

characterizes an unwillingness or inability to change or adapt to new circumstances, ideas, or information.

Stereotyping

The act of assigning a set of characteristics to people based on their membership in a particular group, often oversimplifying and having negative connotations.

Perceptual Distortion

The misinterpretation or misperception of a real external stimulus, often influenced by an individual's mental state or preconceptions.