Suppose You Own a Small Business

question 8

Multiple Choice

Suppose you own a small business. Last month, your total revenue was $6,000. In addition, you paid: $1,000 in monthly rent for office space.
$200 in monthly rent for equipment.
$3,000 to your workers in wages for the month.
$1,000 for the supplies you used that month.
If you correctly determine that your economic profit last month was negative $200, then it must be true that:

• A)you do not have any implicit costs.
• B)your implicit costs are $200 per month.
• C)your implicit costs are $1,000 per month.
• D)the rent you pay on your equipment is an implicit cost.

---

Definitions:

Neurotransmitters

Chemicals located and released in the brain to allow an impulse from one nerve cell to pass to another nerve cell.

Electron Microscope

A type of microscope that uses a beam of electrons to create an image of a specimen, offering higher resolution than traditional light microscopes.

Synaptic Structure

Refers to the physical and functional arrangement of synapses, which are the points of communication between neurons, allowing for the transmission of signals.

Action Potential

Large, brief reversal in the polarity of an axon membrane.