Jamar Used to Work as an Office Manager, Earning $40,000

question 284

Multiple Choice

Jamar used to work as an office manager, earning $40,000 per year. He gave up that job to start a life-coaching business. In calculating the economic profit of his life-coaching business, the $40,000 income that he gave up is counted as part of the life-coaching business's

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

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Definitions:

Baseline

A reference point or starting condition against which changes or advancements are measured.

Tonsillar Enlargement

An increase in the size of the tonsils, often due to infection or inflammation.

Low Oxygen Saturation

A condition indicated by a lower than normal level of oxygen in the blood, which can lead to symptoms like shortness of breath or cyanosis.

Daytime Fatigue

A condition characterized by excessive tiredness or sleepiness during the day, which can impact an individual’s ability to function and perform daily activities.