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Xavier opens up a lemonade stand for two hours. He spends $10 for ingredients and sells $60 worth of lemonade. In the same two hours, he could have mowed his neighbor’s lawn for $40. Xavier earns an accounting profit of _________ and an economic profit of _________. a. $50; $10 b. $90; $50 c. $10; $50 d. $50; $90
Chapter 13, Problem 2(choose chapter or problem)
Xavier opens up a lemonade stand for two hours. He spends $10 for ingredients and sells $60 worth of lemonade. In the same two hours, he could have mowed his neighbor’s lawn for $40. Xavier earns an accounting profit of _________ and an economic profit of _________.
a. $50; $10
b. $90; $50
c. $10; $50
d. $50; $90
Questions & Answers
QUESTION:
Xavier opens up a lemonade stand for two hours. He spends $10 for ingredients and sells $60 worth of lemonade. In the same two hours, he could have mowed his neighbor’s lawn for $40. Xavier earns an accounting profit of _________ and an economic profit of _________.
a. $50; $10
b. $90; $50
c. $10; $50
d. $50; $90
ANSWER:Step 1 of 2
Given data:
Xavier opens up a lemonade stand for two hours. He spends $10 on ingredients and sells $60 worth of lemonade. He could have mowed his neighbor’s lawn for $40 in the same two hours.