Bubba Is a Shrimp Fisherman Who Could Earn $5,000 as a Fishing

question 205

Multiple Choice

Bubba is a shrimp fisherman who could earn $5,000 as a fishing tour guide. Instead, he is a full-time shrimp fisherman. In calculating the economic profit of his shrimp business, the $5,000 that Bubba gave up is counted as part of the shrimp business's

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

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