Assume Brad Worked as a Contractor for a Year and Had

question 1

Multiple Choice

Assume Brad worked as a contractor for a year and had revenues of $120,000 and explicit cost of $70,000.If he could have been paid $80,000 working for a computer company, his accounting profit as a contractor was ____ and his economic profit was ____.

• A)$50,000; -$10,000
• B)$10,000; $50,000
• C)$40,000; $50,000
• D)$50,000; $40,000

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Definitions:

Experimental Psychology

A branch of psychology focused on the study of behavior and mental processes through controlled experiments.

Dominance

A characteristic or behavior indicative of a person's ability to exert control or influence over others.

Sexual Behavior

Actions or practices concerning sex, including the expressions of sexuality and preferences, which vary widely among individuals.

Aloof

Displaying a reserved or detached manner, often indicative of feelings of superiority or disinterest.