Jill’s Jello produces 30,000 units and sells those units for $10 each. The company spends $60,000 on rent and machinery, and $5 per unit in materials and labor. The marginal profit for the firm is: ,Answers: $2, $3, $5, $7 , $10,,Identify in order what type of cost each of the following represents in terms of your attending college as a full time student?, I. Salary that you could be earning instead of studying as a full time student., II. The cost of your tuition for next semester., III. The cost of your text books for next semester., IV. The tuition you paid over the last 3 years., V. The rent for your apartment over the the remaining life of the contract. ,,Answers: ,A.Opportunity cost, Variable cost, Variable cost, Sunk cost, Fixed Cost,B.Opportunity cost, Sunk cost, Variable cost, Sunk cost, Fixed Cost ,C.Variable cost, Variable cost, Variable cost, Sunk cost, Fixed Cost ,D.Opportunity cost, Variable cost, Variable cost, Fixed cost, Fixed Cost
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