If a Firm Has Revenues of $100, Explicit Costs of $50

question 105

Multiple Choice

If a firm has revenues of $100, explicit costs of $50, and implicit costs of $50, its economic profit is:

• A) $0.
• B) $50.
• C) $100.
• D) $500.

---

Definitions:

Greenhouse Gas Emitter

Any entity, such as a company, vehicle, or process, that releases greenhouse gases into the atmosphere, contributing to global warming and climate change.

Mean Global Temperature

The average temperature of the Earth's surface as measured across various global locations over a specific period.

Degrees Celsius

A unit of temperature measurement in the metric system where water freezes at 0 degrees and boils at 100 degrees under standard atmospheric conditions.

CFCs

Chlorofluorocarbons, a group of odorless manufactured chemicals that damage the Earth's ozone layer and have been phased out in many applications due to environmental concerns.