Jake Sells Star Wars Memorabilia on EBay

question 192

Multiple Choice

Jake sells Star Wars memorabilia on eBay.His annual revenue is $42,000 per year, the explicit costs of his business are $10,000, and the opportunity costs of his business are $18,000 per year.What are the implicit costs of his business?

• A)$8,000
• B)$18,000
• C)$24,000
• D)$32,000

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Definitions:

Closer Kin

Refers to an individual's family members who are closely related, such as parents, siblings, or children.

Prosocial Behaviour

Actions intended to benefit others, characterized by altruism, cooperation, and other positive social acts.

Positively Valued

Regarded with high esteem or importance, often due to perceived benefits, moral significance, or emotional attachment.

Benefit Someone

To provide advantage or positive outcomes to an individual or group, improving their condition or situation.