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A medical supply firm produced and sold 500 cases of gloves in a competitive market at a price of $100 each. The cost of materials

A medical supply firm produced and sold 500 cases of gloves in a competitive market at a price of $100 each. The cost of materials and labor was $7,000. The opportunity cost of capital was $10,000 and the opportunity cost of the entrepreneur's time was $40,000.

What is this company's accounting profit and economic profit?

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