Multiple Choice
A small business owner earns $75,000 in revenue annually. The explicit annual costs equal $40,000. The owner could work for someone else and earn $20,000 annually. The owner's accounting profit is ________ and owner's economic profit is ________.
A) $10,000, $10,000
B) $35,000, $10,000
C) $35,000, $55,000
D) $10,000, $55,000
Correct Answer:
Verified
Correct Answer:
Verified
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