According to the information provided, what would Lee's accounting profits need to be to allow her to reach the zero economic profit equilibrium?

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Quizplus · Accepted Answer

To reach zero economic profit equilibrium, Lee's accounting profits need to cover both her explicit costs ($30,000) and her implicit costs ($20,000). Therefore, her accounting profits would need to be $50,000 ($30,000 explicit costs + $20,000 implicit costs) to reach the zero economic profit equilibrium.

According to the Information Provided, What Would Lee's Accounting Profits