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:

Hereditarily

Hereditarily pertains to the genetic transmission of traits, diseases, or characteristics from parents to offspring.

Artificial Selection

The process by which humans breed plants and animals for particular genetic characteristics.

Selective Breeding

The process of breeding plants or animals for specific genetic traits, aiming to enhance or perpetuate desirable characteristics.

Genetic Differences

Variations in the DNA sequences among individuals within a population, contributing to the diversity of traits.