A Firm Has Explicit Costs of $100,000 and Implicit Costs

question 61

Multiple Choice

A firm has explicit costs of $100,000 and implicit costs of $30,000,and generates $150,000 in revenue.How much revenue does it need to have a normal profit?

• A)$20,000
• B)$30,000
• C)$50,000
• D)$100,000
• E)$130,000

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Definitions:

ATP

Adenosine triphosphate, a molecule that carries energy within cells, used as a primary energy source for cellular processes.

ADP

Adenosine diphosphate, a molecule involved in energy transfer within cells.

Alcoholic Fermentation

A biological process in which sugars such as glucose, fructose, and sucrose are converted into cellular energy, producing ethanol and carbon dioxide as by-products.

Inputs

Resources or information entered into a system for processing or for generating a specific output.