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Econ 4th Edition by William McEachern
Edition 4ISBN: 978-1285423548Econ 4th Edition by William McEachern
Edition 4ISBN: 978-1285423548 Exercise 3
ALTERNATIVE MEASURES OF PROFIT Calculate the accounting profit or loss as well as the economic profit or loss in each of the following situations:
a. A firm with total revenues of $150 million, explicit costs of $90 million, and implicit costs of $40 million
b. A firm with total revenues of $125 million, explicit costs of $100 million, and implicit costs of $30 million
c. A firm with total revenues of $100 million, explicit costs of $90 million, and implicit costs of $20 million
d. A firm with total revenues of $250,000, explicit costs of $275,000, and implicit costs of $50,000
a. A firm with total revenues of $150 million, explicit costs of $90 million, and implicit costs of $40 million
b. A firm with total revenues of $125 million, explicit costs of $100 million, and implicit costs of $30 million
c. A firm with total revenues of $100 million, explicit costs of $90 million, and implicit costs of $20 million
d. A firm with total revenues of $250,000, explicit costs of $275,000, and implicit costs of $50,000
Explanation
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Alternative measures of profit
Accounti...
Econ 4th Edition by William McEachern
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