Bubba Is a Shrimp Fisherman Who Could Earn $5,000 as a Fishing

question 205

Multiple Choice

Bubba is a shrimp fisherman who could earn $5,000 as a fishing tour guide. Instead, he is a full-time shrimp fisherman. In calculating the economic profit of his shrimp business, the $5,000 that Bubba gave up is counted as part of the shrimp business's

• A)total revenue.
• B)explicit costs.
• C)implicit costs.
• D)marginal costs.

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Definitions:

Freud

Sigmund Freud, an Austrian neurologist and the founder of psychoanalysis, a method for treating psychopathology through dialogue.

Evolutionary Theory

When used in human development, the idea that many current human emotions and impulses are a legacy from thousands of years ago.

Gender Role

The set of societal norms dictating the behaviors, attitudes, and activities deemed appropriate for individuals based on their perceived sex.

Cognitive Theory

A psychological approach that focuses on understanding how people process, store, and use information, influencing their behavior, thoughts, and emotions.