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The Accompanying Table Outlines the Explicit and Implicit Costs Incurred

Question 161

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The accompanying table outlines the explicit and implicit costs incurred by a small graphic design company in France that takes in annual revenues equal to $250,000.
The accompanying table outlines the explicit and implicit costs incurred by a small graphic design company in France that takes in annual revenues equal to $250,000. a.What would this company's accounting profits equal for a year? b.What would this company's economic profits equal for a year? c.What would we expect to happen in the long run for this market? Why?
a.What would this company's accounting profits equal for a year?
b.What would this company's economic profits equal for a year?
c.What would we expect to happen in the long run for this market? Why?

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a.To calculate accounting profits,you ne...

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