A young Thomas Edison produces and sells 20 light bulbs a week in his dorm room. The parts for each light bulb cost $2.00. He sells each light bulb for $5.00. General Electric offers Thomas an executive job that pays $50.00 a week. Thomas’s weekly economic profit from making light bulbs is equal to:

What will be the operating cost for a 100-W lamp continuously for 1 week when the power utility rate is 15¢/kWh?Group of answer choices$2.52$3.00$0.52$1.90

Lux Company started the month with 20 lamps in its beginning inventory that cost $30 each. During the month, Lux purchased 80 additional lamps for $31 each. At the end of the month, Lux counted its inventory and found that 25 lamps remained unsold. If Lux uses periodic weighted average cost, its Cost of Goods Sold for the month is ______.Multiple choice question.$2,287.50$2,305$2,310$770$2,325

Jason orders 40 bulbs from Loricoz Corp, a light bulb company, for $2 per bulb. He discovers that the delivery contains 5 defective bulbs. Identify the damages that Jason is entitled to if he gives Loricoz Corp. prompt notice of the breach of contract.Multiple choice question.$40$2$80$10

Merlin Inc. is a producer of smart LED light bulbs that use significantly less energy than traditional light bulbs. Merlin’s market research team has estimated that the demand curve for its light bulbs in Australia is given byP = 192 – 2Q,where P is the price and Q is the quantity demanded.For simplicity, suppose that Merlin has no fixed costs and a constant marginal cost of producing light bulbs of $64.Note: Do not include a "$" in your answers.If Merlin charges its profit maximising price of $128, it will generate consumer surplus equal to $Answer for part 1.And it will earn a profit of $Answer for part 2.Merlin is considering reducing its price to $68 to make its product more affordable to its customers and to encourage Australians to make their households more energy efficient.Doing this will cause consumer surplus to increase by $Answer for part 3.However, this will cause Merlin's profit to decrease by $Answer for part 4.

What is the cost of lighting a 0.5-kilowatt outdoor light for 8 hours, if electricity costs 7.5¢ per kilowatt-hour?