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Sofia owns a firm with annual revenues of $ 1 , 0 0 0 , 0 0 0 . Wages, rent, and other costs are
Sofia owns a firm with annual revenues of $ Wages, rent, and other costs are $
Calculate Sofias accounting profit.
Suppose that instead of being an entrepreneur, Sofia could get a job with one of the following annual salaries i $; ii $; or iii $ Assume that a job would be as satisfying to Sofia as being an entrepreneur. Calculate Sofias economic profit under each of these scenarios.
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