Xavier opens up a lemonade stand for two hours. He spends $10 for ingredients and sells $60

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Xavier opens up a lemonade stand for two hours.

He spends $10 for ingredients and sells $60 worth of lemonade. In the same two hours, he could have mowed his neighbor’s lawn for $40. Xavier earns an accounting profit of _________ and an economic profit of _________.

a. $50; $10

b. $90; $50

c. $10; $50

d. $50; $90

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Principles Of Microeconomics

ISBN: 9780357133484

9th Edition

Authors: N Gregory Mankiw

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Question Posted: Jan 27, 2024 11:00 PM

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Xavier opens up a lemonade stand for two hours. He spends $10 for ingredients and sells $60

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Principles Of Microeconomics

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