Stick Storage Manufactures and Sells Computer Flash Drives

question 574

Multiple Choice

Stick Storage manufactures and sells computer flash drives. Last year it sold 2 million flash drives at a price of $10 each. For last year, the firm's

• A)accounting profit was $20 million.
• B)economic profit was $20 million.
• C)total revenue was $20 million.
• D)explicit costs was $20 million.

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Definitions:

Gallons

A unit of volume in the US customary and imperial systems, used to measure liquids. One US gallon is equal to approximately 3.785 liters.

Regular Employees

Individuals who are employed by a company on a permanent basis, typically working a standard work week.

Temporary Employees

Workers hired on a short-term basis to fill temporary needs of an employer, often through staffing agencies.

Local Charity

Local Charity refers to nonprofit organizations that operate within a specific geographic area to provide support and resources for community needs.