If a firm generates $240,000 in revenue,earns $120,000 in economic profit,and its explicit costs are $80,000,how much are its implicit costs?
A) $160,000
B) $80,000
C) $40,000
D) $60,000
E) $120,000
Correct Answer:
Verified
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Q12: Implicit costs are
A) the opportunity cost of
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A) the opportunity cost of
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