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Question 5: For each of the costs listed below, identify whether it is an explicit or implicit cost to a rm. Which costs would be

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Question 5: For each of the costs listed below, identify whether it is an explicit or implicit cost to a rm. Which costs would be subtracted 'om a rm's total revenue to calculate economic prot, and which to calculate accounting prot? a. hourly wages to the firm's employees b. depreciation of the nn's physical assets Depreciation of the rm '3 physical assets is an explicit cost. This cost would be subtracted from a rm '3 total revenue to calculate economic prot; this cost would also be subtracted from a rm '3 total revenue to calculate accounting prot. c. the risk-free 2 percent return the rm's owners could receive on their nancial capital instead of investing it in the rm (1. annual rental payments for a production facility

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