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Pls out some efforts doing the question, I will upvoted for the correct answer! The table below provides the total revenues and costs for a
Pls out some efforts doing the question, I will upvoted for the correct answer!
The table below provides the total revenues and costs for a dental practice for one year. Total Revenues ($) 800,000 Total Costs ($) Wages and Salaries 700,000 Risk-free return of 2% on owner's capital of $1,000,000 20,000 Interest on bank loan 50,000 Cost of supplies 200,000 Depreciation of capital equipment 10,000 Additional wages the dentist owner could have earned in her next best alternative 0 Risk premium of 5% on the owner's capital of $1,000,000 50,000 a. What are the explicit costs for this firm? The explicit costs are $ (Type an integer.) b. What are the implicit costs for this firm? The implicit costs are $ (Type an integer.) c. What are the accounting profits for this firm?c. What are the accounting profits for this firm? The accounting profits are $ (Type an integer.) d. What are the economic profits for this firm? The economic profits are $ (Type an integer.)Step by Step Solution
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