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cia196785920
22.04.2020 •
Business
Consider the following information about a business Diane opened last year: price = $15, quantity sold = 25,000; implicit cost = $155,000; explicit cost = $260,000. What was Diane's economic profit? What was Diane’s accounting profit? Show your work!!
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Ответ:
Economic profit = $-40,000
Accounting profit = $115,000
Explanation:
Accounting profit is total revenue less total cost or explicit cost.
Accounting profit = Total revenue - Total cost
Total revenue = 25,000 x $15 = $375,000
Total cost = $260,000
Accounting profit = $375,000 - $260,000 = $115,000
Economic profit is accounting profit less implicit cost or opportunity cost
Economic profit = Accounting profit -Implicit cost
= $115,000 - $155,000 = $-40,000
I hope my answer helps you
Ответ:
government contract
Explanation: