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If a Firm Has Explicit Costs of $100,000 and Implicit

Question 15

Multiple Choice

If a firm has explicit costs of $100,000 and implicit costs of $30,000,and generates $150,000 in revenue,then its economic profit is _____

A) $20,000.
B) $30,000.
C) $50,000.
D) $100,000.
E) $130,000.

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