If a Firm Has Revenues of $200, Explicit Costs of $100

question 55

Multiple Choice

If a firm has revenues of $200, explicit costs of $100, and implicit costs of $100, then its economic profit is:

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

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Definitions:

HR Certification Institute

An organization that offers professional certification for human resource professionals, indicating expertise and commitment to industry standards.

Professional in Human Resources

A certification for HR professionals that validates their expertise in managing people, complying with regulations, and contributing to an organization's goals.

Line Managers

Managers who are directly responsible for overseeing employees and operations within a specific department or segment of the organization.

Bottom-Line Contributions

The impact an individual or action has on the net earnings or profitability of an organization.