Wiladee Used to Work as an Office Manager,earning $25,000 Per

question 328

Multiple Choice

Wiladee used to work as an office manager,earning $25,000 per year.She gave up that job to start a tailoring business.In calculating the economic profit of her tailoring business,the $25,000 income that she gave up is counted as part of the tailoring firm's

• A) total revenue.
• B) opportunity costs.
• C) explicit costs.
• D) marginal costs.