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quester [9]
3 years ago
12

Bubba is a shrimp fisherman who could earn $5,000 as a fishing tour guide. Instead, he is a full-time shrimp fisherman. In calcu

lating the economic profit of his shrimp business, the $5,000 that Bubba gave up is counted as part of the shrimp business's:________.
a. total revenue.
b. explicit costs.
c. implicit costs.
d. marginal costs.
Business
1 answer:
AnnyKZ [126]3 years ago
4 0

Answer:

Implicit cost

Explanation:

Implicit costs are referred as the opportunity costs that are associated with the selection of a particular activity. Opportunity costs are defined as the benefits that are foregone or sacrificed for selecting some other alternative.

In our case, Bubba is choosing shrimp fisherman over the other alternative of working as a fishing tour guide where he could earn an income $5,000. Hence, the amount of money income foregone from working as a fishing tour guide is the implicit cost in this case.

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Lelechka [254]

Considering the situation described above, Shout utilizes the strategy of <u>Concentrated Marketing.</u>

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Thus, when Shout Magazine focuses its marketing efforts on reaching teenaged girls interested in fashion and celebrity culture, this is a form of <u>Concentrated Marketing.</u>

Concentrated Marketing is often referred to as Niche Marketing, and it is considered more effective in small businesses.

Hence, in this case, it is concluded that the correct answer is "<u>Concentrated Marketing."</u>

Learn more here: brainly.com/question/15418516

4 0
3 years ago
Which of the following is the best example of a good debt strengthening your financial security?
musickatia [10]
There are many different types of "good debt" to have. Good debt with on time payments helps increase your credit score tremendously overtime because it shows lenders you can borrow money and pay it back on time. Paying your bills on time and sticking to your budget can contribute to payments paying off good debt. A mortgage is an example of good debt. 
6 0
3 years ago
Read 2 more answers
How did the conflicts between labor unions and business capital evolve during the gilded age? be sure to address strikes, the ev
slavikrds [6]
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3 years ago
In the short run, the quantity of output that firms supply can deviate from the natural level of output if the actual price leve
timofeeve [1]

Answer:

1.  Rise

2.  Increasing

3.  Rise

Explanation:

For example, the sticky-wage theory asserts that output prices adjust more quickly to changes in the price level than wages do, in part because of long-term wage contracts. Suppose a firm signs a contract agreeing to pay its workers $15 per hour for the next year, based on an expected price level of 100. If the actual price level turns out to be 110, the firm's output prices will RISE, and the wages the firm pays its workers will remain fixed at the contracted level. The firm will respond to the unexpected increase in the price level by INCREASING the quantity of output it supplies. If many firms face similarly rigid wage contracts, the unexpected increase in the price level causes the quantity of output supplied to RISE above the natural level of output in the short run.

The above explanation is the reason why the aggregate supply curve slopes upward in the short run

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Answer:

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