Beyonce Is Considering Leaving Her Current Position to Open a Music

question 127

Multiple Choice

Beyonce is considering leaving her current position to open a music store. Beyonce's current salary is $45,000. Annual music store revenue and costs are estimated at $250,000 and $210,000, respectively. If Beyonce decides to open the music store, the change in her annual income would be:

• A) $40,000
• B) $85,000
• C) ($5,000)
• D) $250,000

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Definitions:

Trade

The exchange of goods and services between individuals or entities, often in different countries or economies.

Production Possibilities

The various combinations of goods and services an economy can produce given its available resources and technology.

Opportunity Cost

The price paid for not selecting the second-best choice when deciding between options.

Rancher

An individual who owns or manages a large farm, especially one used for raising cattle, sheep, or other livestock.