Kevin quit his $65,000 a year corporate lawyer job to open up his own law practice.In Kevin's first year in business his total revenue equaled $150,000.Kevin's explicit cost during the year totaled $85,000.Using the information from Kevin's first year in business,what is his economic profit?
A) $0
B) $20,000
C) $65,000
D) $85,000
Correct Answer:
Verified
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