Given the information that follows,how much are your family business's (a)accounting profits? (b)Economic profits? Sales: $700,000;total costs: $450,000;return you could have earned elsewhere: $20,000;wages you and your family members could have earned doing the same work for another firm: $120,000.

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The Answer of Given the information that follows,how much are your family business's (a)accounting profits? (b)Economic profits? Sales: $700,000;total costs: $450,000;return you could have earned elsewhere: $20,000;wages you and your family members could have earned doing the same work for another firm: $120,000.

Given the Information That Follows,how Much Are Your Family Business's