Suppose That During a Given Time Period the Implicit Cost

question 360

Multiple Choice

Suppose that during a given time period the implicit cost for a business was $1,500 and that the explicit cost was $6,000. Also suppose that the firm sold 1,000 units of its products at $7 per item. We can conclude that the firm's

• A) accounting profit was $1,000, and its economic profit was -$500.
• B) accounting and economic profits were both $1000.
• C) accounting profit was -$500, and economic profit was $1,000.
• D) accounting profit was $1000, and economic profit was -$1,500.

Recognize the impact of media and entertainment integrations on product sales and brand exposure through examples like product placement in films.

Identify various sales promotion tools targeted at distributors, wholesalers, and retailers, such as finance allowances and merchandise allowances.

Comprehend the concept of reverse product placement and its commercial significance.

Grasp the essentials of effective distributor and reseller training for enhancing product representation.

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