Stick Storage Manufactures and Sells Computer Flash Drives

question 574

Multiple Choice

Stick Storage manufactures and sells computer flash drives. Last year it sold 2 million flash drives at a price of $10 each. For last year, the firm's

• A)accounting profit was $20 million.
• B)economic profit was $20 million.
• C)total revenue was $20 million.
• D)explicit costs was $20 million.

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Definitions:

Advantaged Groups

Groups within a society or organization that enjoy more resources, rights, or privileges compared to other segments.

Commonalities

Traits, interests, or values that are shared between individuals or groups, leading to a sense of unity or agreement.

Power

The ability or capacity to influence or control the behavior of others, the course of events, or the distribution of resources.

Lower Status Rank

A position in a social hierarchy that has less prestige, authority, or influence than higher-ranked positions.