9. Your business turns old wooden pallets into old-fashioned toys. Specifically, wooden building blocks or toy houses. If you make building blocks you expect to ean yearly revenue of $25,000. The production costs for making the building blocks will be $8000. If you make toy houses you anticipate selling 2000 houses for $10 apiece. The ATC for each house is $2. Your accounting profit from making wooden building blocks is toy houses is and your economic profit from making A. $16,000; $17,000 B. $16,000; -$1000 C. $17,000; $16,000 D. $17,000; -$1,000

Essentials of Economics (MindTap Course List)
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Chapter12: The Cost Of Production
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9. Your business turns old wooden pallets into old-fashioned toys. Specifically, wooden building blocks or toy houses. If
you make building blocks you expect to eam yearly revenue of $25,000. The production costs for making the building
blocks will be $8000. If you make toy houses you anticipate selling 2000 houses for $10 apiece. The ATC for each house
is $2. Your accounting profit from making wooden building blocks is
toy houses is
and your economic profit from making
A. $16,000; $17,000
B. $16,000; -$1000
C. $17,000; $16,000
D. $17,000; -$1,000
10. In the graph below this monopolist would have a:
APE
-MC
AMR
Gatity duniday
A. profit of $90.
B. loss of $16.
C. profit of $48
D. loss of $64
Transcribed Image Text:9. Your business turns old wooden pallets into old-fashioned toys. Specifically, wooden building blocks or toy houses. If you make building blocks you expect to eam yearly revenue of $25,000. The production costs for making the building blocks will be $8000. If you make toy houses you anticipate selling 2000 houses for $10 apiece. The ATC for each house is $2. Your accounting profit from making wooden building blocks is toy houses is and your economic profit from making A. $16,000; $17,000 B. $16,000; -$1000 C. $17,000; $16,000 D. $17,000; -$1,000 10. In the graph below this monopolist would have a: APE -MC AMR Gatity duniday A. profit of $90. B. loss of $16. C. profit of $48 D. loss of $64
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