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Economic Profit: Implicit Revenue and Costs Calculate economic profit for a particular situation. An investor was choosing between contributing $75,000 to a boutique or a
Economic Profit: Implicit Revenue and Costs Calculate economic profit for a particular situation. An investor was choosing between contributing $75,000 to a boutique or a local shoe shop. After careful deliberation, the investor chose the boutique. In the first year, the boutique generated enough profit to pay the investor $15,000 (based on an agreed percentage of the profits). If the investor had chosen the local shoe shop, she would have received $9,000 (also based on an agreed percentage of the profits). The investor's economic profit was __________. a.) $15,000 b.) $6,000 c.) $24,000 d.) $51,000
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