#3 The following is cost information for the Creamy Crisp Donut Company.Entrepreneur's potential earnings as a salaried worker = $60,000Annual lease on building = $30,000Annual revenue from operations = $250,000Payments to workers = $100,000Utilities (electricity, water, disposal) costs = $8,000Value of entrepreneur's talent in the next best entrepreneurial activity = $80,000Entrepreneur's forgone interest on personal funds used to finance the business = $6,000If, other things equal, Creamy Crisp's revenue rose to $284,000,Multiple ChoiceOOIts implicit costs would exceed its economic costs.It would earn a normal profit but not an economic profit.It would suffer an economic loss.Its accounting profit would fall to $0.

We know that Explicit costs are the actual out of pocket expenditures of a firm while implicit costs…

Business

Economics

#3

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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