G As the economy grows over time, income oncourse.fredonia.edu Dashboard 0 0 $ EXAM II (page 1 of 10) FREDONIA OnCourse Quiz navigation _% of United States 5 7 8 ECON-205-03: Fall 2021 Question 1 According to the Kaiser Family Foundation, _ residents were uninsured in 2018. (They had no healthcare insurance swer saved 13 14 15 16 17 Participants 10 11 12 Points out of coverage.) 5.00 Badges P Flag Select one: 19 20 21 22 23 24 25 26 27 question Grades a. 9% b. 91% & Dashboard 28 30 31 32 33 34 35 36 C. 49% # Site home d. 20% 37 38 39 40 41 42 43 44 45 Calendar Clear my choice My courses 46 47 48 49 50 Question 2 Fredonia Student Answer saved Resources pints out of Bob is the owner of a large sporting goods store. In 2019 the business had Finish attempt ... 6.00 sales (revenue) of $700,000. Bob's explicit costs were $550,000. (Included in P Flag question he total of $550,000 were $475,000 in wholesale sporting goods purchases, and $75,000 in wages and utilities combined.) Bob turned down an offer to Time left 0:19:17 manage a Dick's Sporting Goods store. Had he accepted the position instead of running his own store, he would have been paid a salary of $175,000 per profit, or economic loss. ear. Under these circumstances, calculate the amount of Bob's economic Select one: a. ($25,000) Economic Loss b. $150,000 Economic Profit C. $325,000 Economic Profit d. $25,000 Economic Profit Clear my choice D m O F10 T C O F 12 X