Scenario 13-13 Christine Is an Artist Who Creates Custom Cookie Jars. Her

question 87

Multiple Choice

Scenario 13-13
Christine is an artist who creates custom cookie jars. Her annual revenue from selling the cookie jars is $90,000. The annual explicit costs of the materials used to make the cookie jars are $54,000.
-Refer to Scenario 13-13. Christine could earn $6,000 per year preparing taxes. In calculating the economic profit of her cookie jar business, the $6,000 that Christine gives up is counted as part of her business's

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

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Definitions:

Emotional Affectivity

The extent to which people typically experience positive and negative emotions.

Negative Affect

Emotional expressions and experiences characterized by distress, discomfort, and dissatisfaction.

Social Activity

Participation in events or activities that involve interaction with others, contributing to a person's social life and well-being.

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