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:

Melting Pot

The blending of new immigrants’ traditions and cultural identity into the dominant American culture.

Minority Relations

The dynamics and interactions between dominant groups and those classified as minorities within a society, often including themes of power, discrimination, and social justice.

American Concept

Ideas, beliefs, or values that are strongly associated with or originating from the United States.

Scapegoat Theory

A sociological concept suggesting that dominant groups project their failures or problems onto a less powerful group, blaming them unjustly.