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Julia prepares tax returns and does bookkeeping. Last year her revenues from thetax and bookkeeping business were $150,000, and her expenses for the businesswere $15,000.

Julia prepares tax returns and does bookkeeping. Last year her revenues from thetax and bookkeeping business were $150,000, and her expenses for the businesswere $15,000. When she started her tax and bookkeeping business, Julia gave upher supplemental job doing in-home pet sitting. She used to earn $10,000 per yearfrom pet sitting. Julia's economic profit is

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