Answered: Calculate economic profit given:-…

Business

Economics

Calculate economic profit given:- Total revenue = $5000 Explicit cost = $1000 Implicit cost = $2500

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter23: Profit Maximization

Section: Chapter Questions

Problem 6E

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Question

Calculate economic profit given:-

Total revenue = $5000

Explicit cost = $1000

Implicit cost = $2500

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