Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sleek Hair Accessories has produced 35,000 hair bands that cost the company $0.03 each to make. They recently sold 35,000 of the hair bands to

image text in transcribed

image text in transcribed
Sleek Hair Accessories has produced 35,000 hair bands that cost the company $0.03 each to make. They recently sold 35,000 of the hair bands to a local drug store at $0.11 each. Their opportunity cost is $1,000. What is Sleek Hair Accessories' economic profit? O $1,800 O $2,500 O $2,350 O $1,500

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Business

Authors: John Daniels, Lee Radebaugh, Daniel Sullivan

15th edition

133457230, 978-0133457230

More Books

Students also viewed these Economics questions

Question

The background knowledge of the interpreter

Answered: 1 week ago

Question

How easy the information is to remember

Answered: 1 week ago