Tommy's Teddy Bears Incurs $300,000 Per Year in Explicit Costs

question 47

Multiple Choice

Tommy's Teddy Bears incurs $300,000 per year in explicit costs and $50,000 in implicit costs.The shop earns $600,000 in revenues and has $1.1 million in net worth.Based on this information,what is economic profit for Tommy's Teddy Bears?

• A)$250,000
• B)$300,000
• C)$500,000
• D)$1.35 million

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Definitions:

Morphemes

The smallest units of meaning in a language, which can be a word or a part of a word (such as a prefix).

Metalinguistic Awareness

The ability to reflect on and manipulate the structural features of spoken language, such as understanding that a sentence can be interpreted in different ways.

Metaphor

A figure of speech in which a word or phrase is applied to an object or action to which it is not literally applicable, suggesting a resemblance.

Overregularization

A linguistic phenomenon in language development where children apply regular grammatical patterns to irregular words, like saying "goed" instead of "went".