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Alex is the owner of an EB Games store Currently his store’s revenues are $5000 day with explicit costs equal

Alex is the owner of an EB Games store. Currently his store’s revenues are $5,000/day with explicit costs equal to $2,000/day. The opportunity cost of operating the EB Games store is $1,000/day. Which of the following statements are true: In operating the EB Games store, the $1,000/day is an implicit cost. Alex's accounting profit is $2,000/day. Alex is making an economic profit of $2,000/day. Alex is making a normal profit of $3,000/day.

Apr 21 2020 View more View Less

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