If the Total Costs of Producing 1,500 Units of Output

question 36

Multiple Choice

If the total costs of producing 1,500 units of output is $12,000 and this output sold to consumers for a total of $15,000, then the firm would earn economic profits of

• A)$15,000.
• B)$18,000.
• C)$3,000.
• D)$12,000.
• E)$27,000.

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Definitions:

Implicit Association Test

A psychological tool used to measure unconscious biases by assessing the strength of associations between concepts (e.g., black or white, gay or straight) and evaluations (e.g., good or bad).

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Enduring personal qualities or characteristics that influence an individual's behavior, thoughts, and feelings across various situations.

Self-esteem

The subjective assessment of one's own worth or value.

Narcissism

A personality trait characterized by excessive self-love or self-centeredness.