Identify the letter of the choice that best completes the statement or answers the question.
The amount of money that a firm receives from the sale of its output is called
total gross profit.
total net profit.
Samantha has been working for a law firm and earning an annual salary of $80,000. She decides to open her
own practice. Her annual expenses will include $15,000 for office rent, $3,000 for equipment rental, $1,000
for supplies, $1,200 for utilities, and a $35,000 salary for a secretary/bookkeeper. Samantha will cover her
start-up expenses by cashing in a $20,000 certificate of deposit on which she was earning annual interest of
Refer to Scenario 13-5.
According to Samantha’s accountant, which of the following revenue totals will yield
her business $50,000 in profits?
Alyson’s Pet Sitting Service
of pet visits)
Refer to Table 13-1.
What is the marginal product of the second worker?