Stick Storage manufactures and sells computer flash drives. Last year it sold 2 million flash drives at a price of $10 each. For last year, the firm's
A)accounting profit was $20 million.
B)economic profit was $20 million.
C)total revenue was $20 million.
D)explicit costs was $20 million.

Question

Quizplus · Accepted Answer

Total revenue is calculated by multiplying the quantity sold by the price per unit. In this case, 2 million flash drives were sold at $10 each, resulting in a total revenue of $20 million. Accounting profit, economic profit, and explicit costs cannot be determined solely from the given information.

Stick Storage Manufactures and Sells Computer Flash Drives