Suppose a dentist has total revenue of $320,000, and his total costs are $250,000 for the year. Also suppose the dentist left a job paying $112,000 a year to start his own practice. What is the dentist's accounting profit?
A) -$28,000
B) -$42,000
C) $182,000
D) $70,000
E) $112,000
Correct Answer:
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