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Cheryl quit her $60,000 per year job as an accountant to start her own restaurant. Her restaurant grossed $150,000 last year, and she had expenses
Cheryl quit her $60,000 per year job as an accountant to start her own restaurant. Her restaurant grossed $150,000 last year, and she had expenses of $90,000, so
a. She is earning positive economic profits. d. She is earning her opportunity costs.
b. She is earning an economic loss. e. both c and d.
c. She is earning an accounting loss.
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