A Certain Firm Produces and Sells Potato Chips

question 119

Multiple Choice

A certain firm produces and sells potato chips.Last year it sold 3 million bags of chips at a price of $3 per bag.For last year,the firm's

• A) accounting profit was $9 million.
• B) economic profit was $9 million.
• C) total revenue was $9 million.
• D) explicit costs was $9 million.

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Definitions:

Rotational Slide

A type of landslip characterized by the rotation of rock or earth around a point or axis, often leading to a concave landslide shape.

Debris Flow

A rapid flow of water-laden masses of soil, rock, and organic matter down slopes, often triggered by heavy rainfall or rapid snowmelt.

Debris Slide

A rapid, downward movement of rock and soil debris on a slope.

Rotational Slide

A type of landslide characterized by the rotational movement of rock or soil along a concave-upward surface.