Solved

If Your Business Earns $10,000 in Revenues, Has Explicit Costs

Question 104

Multiple Choice

If your business earns $10,000 in revenues, has explicit costs of $8,000, and implicit costs of $5,000, your economic profit is

A) $2,000.
B) -$3,000.
C) $5,000.
D) $3,000.

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