Multiple Choice
If explicit costs equal $157,000, implicit costs equal $95,000, and accounting profit equals $23,000, it follows that total revenue equals __________ and economic profit equals __________.
A) $75,000; $17,000
B) $180,000; -$72,000
C) $68,000; $25,000
D) $118,000; -$72,000
E) There is not enough information given to answer this question.
Correct Answer:
Verified
Correct Answer:
Verified
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