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Apply the Skill A regional pharmacy chain is trying to determine the long-term viability of opening ten new outlets. The management team has the following estimates of revenues and costs. Use them to calculate both accounting profit and economic profit for the new stores. Then explain the difference between the two and identify the economic principle that the chain's managers should use to make their decision. REVENUE $12 MILLION Explicit Costs Rent $2 million Equipment $500,000 lnventorv $4 million Labor $2.5 miilion Depreciation on equipment $150,000 Implicit Costs Opportunity cost (interest earned from investing $300,000 cash instead of expanding} Training new employees $300,000