Suppose That a Business Incurred Implicit Costs of $200,000 and Explicit

question 197

Multiple Choice

Suppose that a business incurred implicit costs of $200,000 and explicit costs of $1 million in a specific year. If the firm sold 4,000 units of its output at $300 per unit, its accounting profits were

• A)$100,000 and its economic profits were $0.
• B)$200,000 and its economic profits were $0.
• C)$100,000 and its economic profits were $100,000.
• D)$0 and its economic loss was $200,000.

---

Definitions:

Kinesthetic

Kinesthetic relates to the perception of body movements and position, often referred to as muscle memory or the sense of body awareness.

Gustation

The sense of taste, one of the five traditional senses, which perceives and differentiates flavors.

Vestibular

Refers to the system in the body responsible for maintaining balance, posture, and the body's orientation in space.

Throbbing Ache

A persistent and often pulsating pain that may indicate an underlying condition or injury.