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Question
The economyʹs current rate of interest is 10 percent and a firm has $10,000 of owner -invested capital. Its total revenue is $5000 and the firmʹs explicit costs are $3500. From this we know that this firmʹs
A) accounting profit is $500.
B) economic profit is $1,500.
C) accounting profit is $1,500.
D) economic profit is $5,000.
Answer
This answer is hidden. It contains 1 characters.
Related questions
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