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Suppose That a Local Hardware Store Has Explicit Costs of $2

Question 78

Multiple Choice

Suppose that a local hardware store has explicit costs of $2 million per year and implicit costs of $44 000 per year.If the store earned an economic profit of $50 000 last year,this means that the store's accounting profit equalled:


A) $94 000.
B) $6 000.
C) $2.05 million.
D) $2.044 million.

Correct Answer:

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