Profit

Question 1

To generate higher profits, producers must work to

Revolt · Accepted Answer

decrease their production costs.

Question 2

Brenda’s Boards manufactures skateboards. Each skateboard sells for $45 and includes the following expenses: $3 for the wheels and mounts, $1 for the plastic board, $1 for the paint, and $10 for the labor. What is the total profit the company earns after selling 100 boards?

Revolt · Accepted Answer

$3,000

Question 3

In order to calculate marginal cost, producers must compare the difference in the cost of producing one unit to the cost of

Revolt · Accepted Answer

producing the next unit.

Question 4

[BLANK]

Revolt · Accepted Answer

profits

Question 5

To generate higher profits, producers must work to

Revolt · Accepted Answer

decrease their production costs.

Question 6

What is the best definition of marginal revenue?

Revolt · Accepted Answer

the additional income gained from selling an additional good

Question 7

Producers must understand the marginal benefit of making an additional unit, which shows the

Revolt · Accepted Answer

possible gain.

Question 8

Clark’s Cleaners is a housekeeping service. The company’s expenses include the

Revolt · Accepted Answer

cleaning supplies and any equipment the company purchases.

Question 9

Brenda’s Boards manufactures skateboards. Each skateboard sells for $45 and includes the following expenses: $3 for the wheels and mounts, $1 for the plastic board, $1 for the paint, and $10 for the labor. What is the total revenue the company makes after selling 10 boards?

Revolt · Accepted Answer

$450

Question 10

Profit equals the total amount of money made minus

Revolt · Accepted Answer

expenses.

Profit Answers

More from this Course

TRY EDGENUITY HACKS