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Question
Suppose a family-owned yogurt shop has $80,000 in total revenues, $36,000 in rent, and $20,000 in additional operating costs. The husband and wife work in the shop and pay no wages to themselves or others. The economic profits from the shop are
A) $24,000.
B) less than $24,000.
C) more than $24,000.
D) $80,000.
Answer
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