Question
A firm is earning an accounting profit of $5,000. Its implicit costs are $3,000, explicit costs are $8,000, and its economic profit is $2,000. What
A firm is earning an accounting profit of $5,000. Its implicit costs are $3,000, explicit costs are $8,000, and its economic profit is $2,000. What must its total revenue be? (2 points)
| $7,000 | |
| $10,000 | |
| $13,000 | |
| $18,000 | |
| Indeterminate |
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Microeconomics
Authors: Dean S. Karlan, Jonathan J. Morduch
2nd edition
1259813337, 1259813339, 978-1259813337
