Refer to the Data in the Accompanying Table

question 100

Multiple Choice

Refer to the data in the accompanying table.Assuming total fixed costs equal to zero, the firm's

• A)economic profit is $12.
• B)economic profit is $16.
• C)loss is $14.
• D)economic profit is $3.

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Definitions:

Start-ups

Newly established businesses, often focused on unique products or services in their initial stages of development.

Small Businesses

Enterprises that are independently owned and operated, characterized by a small number of employees and relatively low volume of sales.

Success Rate

The proportion or percentage of attempts that result in success, often used as a metric to gauge the effectiveness of a particular strategy or process.

Entrepreneurial Firms

Businesses characterized by innovative practices, growth orientation, and the pursuit of opportunities beyond current resources.