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Assume that a firm's total revenue is $200,000 per year. It pays its workers wages of $105,000 per year and buys raw materials of $80,000
Assume that a firm's total revenue is $200,000 per year. It pays its workers wages of $105,000 per year and buys raw materials of $80,000 per year. If the owner has $200,000 invested in this business and could earn 9% by placing this $200,000 in another business, then A) economic profits and accounting profits are both positive. or B)opportunity cost is zero
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