97. A certain firm manufactures and sells computer chips. Suppose that last year it sold 4 million chips at a price of $10 per chip. Which of the following terminology correctly accounts for the $40 million to this firm? a. Its accounting profit amounted to $40 million. b. Its economic profit amounted to $40 million. C. Its total revenue amounted to $40 million. d. Its explicit costs amounted to $40 million, 98. Harry's Hotdogs is a small street vendor business owned by Harry Huggins. Harry is trying to get a better understanding of his costs by categorizing them as fixed or variable. Which of the following costs are most likely to be considered fixed costs? a. the cost of mustard b. the cost of hotdog buns the cost of wages paid to workers that sell hotdogs Sy o hlsvendlng perm R 99. What does a total-cost curve show? a. the relationship between the quantity of an input used and the total cost of production b. the relationship between the quantity of output produced and the total cost of production e the relationship between the total cost of production and profit d. the relationship between the total cost of production and total revenue