Laura's Pizza Place Incurs $800,000 Per Year in Explicit Costs

question 51

Multiple Choice

Laura's Pizza Place incurs $800,000 per year in explicit costs and $100,000 in implicit costs.The restaurant earns $1.3 million in revenues and has $5 million in net worth.Based on this information,what is economic profit for Laura's Pizza Place?

• A)$200,000
• B)$400,000
• C)$500,000
• D)$2.8 million

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Definitions:

Consciousness Raising

A process of increasing awareness about social, political, health, or personal issues, often as a component of social movements or personal development strategies.

Emotional Arousal

A condition in which a person's feelings are intensified, leading to physiological and psychological changes, often as a response to a stimulus.

Self-Reevaluation

A cognitive process in which individuals assess their self-image with respect to a particular behavior or habit, often leading to significant lifestyle changes.

Skills

The ability to do something well, which can be developed through practice and training.