Social Studies, 17.10.2019 20:30 Jasten
Suppose that a business incurred implicit costs of $200,000 and explicit costs of $1 million in a specific year. if the firm sold 4,000 units of its output at $300 per unit, its accounting profits were:
a. $100,000 and its economic profits were zero.
b. $200,000 and its economic profits were zero.
c. $100,000 and its economic profits were $100,000.
d. zero and its economic loss was $200,000.
Answers: 1
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Suppose that a business incurred implicit costs of $200,000 and explicit costs of $1 million in a sp...
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