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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Is accounting profit or economic profit larger? Why?

To determine

Explain who will start own business.

Explanation

In this case, the person who earns low salary has the lower implicit cost, and so the low-salary person will decide to start a business...

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