The Table Below Provides the Total Revenues and Costs for a Small

question 92

Multiple Choice

The table below provides the total revenues and costs for a small landscaping company in a recent year.
TABLE 7-2
-Refer to Table 7-2.The implicit costs for this firm are

• A)$31 200.
• B)$30 800.
• C)$30 400.
• D)$400.
• E)$800.

---

Definitions:

Trade

The exchange of goods and services between individuals, businesses, or countries, which can be domestic or international in nature.

Corn

A cereal plant that yields large kernels on a cob, used as food for humans and livestock and as a raw material in industry.

Factor Endowments

Refers to the quantity and quality of resources a country or region possesses, such as labor, land, and capital.

World Trade

The exchange of goods, services, and capital between countries and territories across the globe.