Pat Used to Work as an Aerobics Instructor at the Local

question 43

Multiple Choice

Pat used to work as an aerobics instructor at the local gym earning $35,000 a year. Pat quit that job and started working as a personal trainer. Pat makes $50,000 in total annual revenue. Pat's only out-of-pocket costs are $12,000 per year for rent and utilities, $1,000 per year for advertising and $3,000 per year for equipment. Pat's explicit costs are ________, and Pat's implicit costs are ________.

• A)$16,000; $51,000
• B)$15,000; $36,000
• C)$16,000; $35,000
• D)$35,000; $16,000

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Definitions:

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An organization that gathers contributions or makes expenditures under certain regulatory frameworks with the aim of influencing electoral outcomes or policy decisions.

Null Hypotheses

A statement in statistical testing that assumes no effect or no difference between groups or variables.

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Time off from work that employees can use to recover from illness without losing pay.