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If Your Business Earns $20,000 in Revenues, Has Explicit Costs

Question 18

Multiple Choice

If your business earns $20,000 in revenues, has explicit costs of $7,000, and implicit costs of $5,000, your accounting profit is

A) $32,000.
B) -$8,000.
C) $8,000.
D) $13,000.

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